My fiance and I intend to remortgage our penthouse in Ossett with Kent Reliance. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Kent Reliance conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Kent Reliance. This is solely used to protect Kent Reliance if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Kent Reliance had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
My aunt passed away last year and as sole heir and executor I was left the house in Ossett. The house had a small mortgage remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Co-operative, pay off the mortgage. Is this possible?
Where you intend to refinance then Co-operative will require that you use a conveyancer on the Co-operative conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Co-operative conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Co-operative mortgage is registered as a charge at the Land Registry.
Forgive me if this question is silly but I am wet behind the ears as FTB of a two bedroom flat in Ossett. Do I pick up the keys to the premises on completion from my lawyer? If this is the case, I will appoint a local conveyancing solicitor in Ossett?
On the day of completion you will not be required to go to the conveyancers office in Ossett. Your solicitors will transfer the purchase money to the owner’s solicitors, and shortly after the monies have arrived, you will be able to pick up the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
A colleague pointed out to me me that in buying a property in Ossett there could be a number of restrictions affecting the ability to carry out external alterations to a property. Is this right?
We are aware of a number of properties in Ossett which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Ossett should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Are all Ossett Conveyancing Quality Solicitors on the Leeds Building Society conveyancing list of approved practices?
A selection of banks and building societies now make use of CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
Do I need to take out insurance to protect me from financial exposure to chancel repairs when purchasing a property in Ossett?
Unless a prior acquisition of the house took place after 12 October 2013 you could assume that solicitors carrying out conveyancing in Ossett to remain encouraging a chancel search and or chancel repair liability insurance.
I'm purchasing my first flat in Ossett with a loan from Yorkshire Building Society. The sellers would not budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not to tell my solicitor about this extras as it could put at risk my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I need to retain a conveyancing solicitor for purchase conveyancing in Ossett. I happened to land on a site which looks to be the perfect answer If it is possible to get all formalities completed via email that would be preferable. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?