My partner and I intend to remortgage our apartment in Parkwood Springs with Barclays. We have a son approaching twenty who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this form unique to the Barclays conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) Does our son by signing this extinguish his entitlement to inherit the property?
First, rest assured that your Barclays conveyancing panel solicitor is doing the right thing 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 Barclays. This is solely used to protect Barclays 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 Barclays 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.
I am buying a property in Parkwood Springs. An unusual aspect is that the roof has a solar panel. Skipton have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Skipton your lawyer must follow the conveyancing requirements outlined in Part 2 of UK Finance Lenders’ Handbook for Skipton. The CML Handbook includes minimum requirements for solar panel roof-space leases, and solicitors are required to report to Skipton where a lease does not meet these conditions. The conditions relate to the installation of panels on properties in England and Wales and is not restricted to Parkwood Springs.
I have decided to exercise my right to buy my property in Parkwood Springs off the council. I have a mortgage offer with Leeds Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Leeds Building Society, you will need to appoint a solicitor on the Leeds Building Society conveyancing panel.
I can not fathom if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Parkwood Springs bank branch on a couple of occasions and was informed it wasn't a problem and they would lend. My Parkwood Springs conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they refuse to lend in accordance with their published requirements. I have no idea who is right.
The lawyer has to follow the Council of Mortgage Lenders’ Handbook section two requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
What can a local search reveal about the property we're buying in Parkwood Springs?
Parkwood Springs conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company for instance Xpress Legal The local search is essential in every Parkwood Springs conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your new home. The search should reveal information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
How does conveyancing in Parkwood Springs differ for newly converted properties?
Most buyers of new build or newly converted property in Parkwood Springs approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is completed. This is because developers in Parkwood Springs usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Parkwood Springs or who has acted in the same development.
I am looking for a flat up to £305k and found one round the corner in Parkwood Springs I like with open areas and transport links in the vicinity, however it's only got 52 years on the lease. There is not much else in Parkwood Springs for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan the shortness of the lease will be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
I am unable to visit my Parkwood Springs conveyancing practitioners office to execute documents connected to my conveyancing in Parkwood Springs – is this a problem?
No. Parkwood Springs conveyancing solicitors can deal with home moves for clients who are based anywhere. It is not necessary for you to be able to be present a Parkwood Springs conveyancers office. Almost all lawyer can handle everything remotely from their Parkwood Springs premises.