My fiance and I are refinancing our penthouse in Penwortham with Principality. We have a son 19 who lives at home. Our solicitor requested us to identify anyone over the age of 17 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 concerns (1) Is this document specific to the Principality conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Principality 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 Principality. This is solely used to protect Principality 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 Principality 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 partner and I are intent on selling our home in Penwortham and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. A high street Penwortham lawyer would know that there is no such problem. It does beg the question why the purchasers are using an internet conveyancing practice as opposed to a conveyancing solicitor in Penwortham. We have lived in Penwortham for 4 years we know of no issue. Do we contact our local Authority to obtain confirmation that there is no issue.
It would appear that you have a conveyancing firm already. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I have recentlybecome aware that Wolstenholmes have closed. They conducted my conveyancing in Penwortham for a purchase of a leasehold flat 9 months ago. How can I be sure that the property is registered correctly in the name of the former proprietor?
The easiest method to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Penwortham conveyancing specialists.
I'm purchasing my first flat in Penwortham benefiting from help to buy. The sellers would not move on the price so I negotiated £7000 of additionals instead. The sale representative told me not reveal to my lawyer about this side-deal as it could affect my mortgage with the bank. Do I keep my lawyer in the dark?.
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've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a simple, chain free conveyancing. Penwortham is where the house is located. Can you offer any opinion?
Flying freeholds in Penwortham are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Penwortham you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Penwortham may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the mortgage company conveyancing panel. My lawyer has said that they are on the lender approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the bank solicitor panel.