My wife and I are refinancing our apartment in Powys with Bank of Ireland. We have a son 19 who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is repossessed. I have two concerns (1) Is this form unique to the Bank of Ireland conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) Does our son by signing this compromise 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 Bank of Ireland. This is solely used to protect Bank of Ireland 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 Bank of Ireland 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.
How up to date is your search tool for Powys conveyancing solicitors on the TSB conveyancing panel? Do TSB send you an updated list?
Powys conveyancing firms themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
My property lawyer in Powys is not on the Aldermore Approved Panel. Can I still use my prefered solicitor notwithstanding that they are excluded from the Aldermore panel of approved conveyancing solicitors?
The limited options available to you here include:
- Complete the purchase with your preferred Powys lawyers but Aldermore will need to instruct a conveyancer on their list of acceptable firms. This will inevitably rack up the total legal charges and result in delays.
- Find a new solicitor to act in the purchase, obviously checking they are on the Aldermore panel
My wife and I are close to exchanging contracts on the sale of our home in Powys and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. Any high street Powys lawyer would know this is not the case. For the life of me I don't know why the purchasers used a factory type conveyancing practice rather than a conveyancing solicitor in Powys. Having lived in Powys for many years we know of no issue. Is it a good idea to contact our local Authority to seek clarification need.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You need to 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 life insurance to cover that same illness)
In sourcing the web for the term conveyancing in Powys it shows results of many conveyancersin the area. How do I determine which is the suitable conveyancing solicitor for the sale of my house?
The ideal way of seeking a suitable conveyancer is via trusted recommendation, so ask friends and relatives who have purchased a property in Powys or the respected estate agent or mortgage broker. Costs for conveyancing in Powys vary, so it's advisable to secure a minimum of four quotes from different law firms. Make sure that you know what costs in the quote includes.
My offer on semi in Powys was agreed to, the owner does however have a connected purchase. The vendors have submitted an offer on somewhere, however it’s not yet tied up, and has viewings of other apartments in the pipeline. I have selected a local conveyancing solicitor in Powys. What do I do now? When should I get the mortgage application with Barclays going with Barclays?
It is usual to have concerns where there is a chain given your reluctance to be too out of pocket prematurely (mortgage application is approx one thousand pounds, then valuation, Powys conveyancing search fees, etc). First, you should ensure that your solicitor is on the Barclays conveyancing panel. As to the subsequent steps this very much depends on the specifics of your transaction, desire for this property and on the state of the market. During a hot market the majority of buyers will apply for the mortgage with Barclays and arrange for the valuation and only if it comes back ok would they request their conveyancer to move forward with searches.