My partner and I intend to remortgage our maisonette in Riddlesdown with Skipton. We have a son 18 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, waiving any legal rights in the event that the apartment is repossessed. I have a couple of concerns (1) Is this document specific to the Skipton conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) In signing this form is our son in any way compromising his right 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 Skipton. This is solely used to protect Skipton 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 Skipton 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 relative advised me that if I am purchasing in Riddlesdown I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Riddlesdown conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about Riddlesdown around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Riddlesdown Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Riddlesdown Education with plans and statistics, Local Amenities and other useful information about Riddlesdown.
I am buying my first flat in Riddlesdown with a loan from Skipton Building Society. The builders would not reduce the amount so I negotiated £7000 of extras instead. The house builders rep told me not disclose to my solicitor about the deal as it will affect my mortgage with Skipton Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a quick, chain free conveyancing. Riddlesdown is the location of the property. Can you offer any opinion?
Flying freeholds in Riddlesdown are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Riddlesdown you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Riddlesdown may ascertain 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 premises.
How easy is it to use the search facility to choose a conveyancing solicitor in Riddlesdown on the panel for my lender?
Step one is to select a bank such as HSBC Bank, Virgin Money or Alliance & Leicester then choose your preferred area for example Riddlesdown. Conveyancing firms in Riddlesdown and across England and Wales should be shown.
I need to appoint a conveyancing solicitor for freehold conveyancing in Riddlesdown. I have land on a web site which seems to have the perfect offering If there is a chance to get all this stuff completed via phone that would be preferable. Do I need to be concerned? What are the potential pitfalls?
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?