My fiance and I intend to remortgage our flat in Ryhall with Clydesdale. We have a son 19 who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this form unique to the Clydesdale conveyancing panel as he never had to sign this form when we remortgaged 4 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 Clydesdale. This is solely used to protect Clydesdale 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 Clydesdale 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.
Having sold my house in Ryhall last September but my buyer keeps calling every few hours to say their conveyancer is waiting to hear from myconveyancer. What should have happened now that I have sold?
Following your house sale your solicitor should forward the transfer documentation and all additional paperwork to the purchaser's solicitors. Depending on the transaction, your conveyancer must also confirm that the home loan has been paid off to the buyers conveyancers. There is unlikely to be post completion tasks just for conveyancing in Ryhall.
We are purchasing a newbuild flat in Ryhall with a loan from Yorkshire Building Society.We like our Ryhall conveyancing lawyer but Yorkshire Building Society says her practice is not on their "panel". It seems we have no choice but to instruct a Yorkshire Building Society panel solicitor or retain our preferred solicitor and fork out for a Yorkshire Building Society panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The home loan offered to you contains various provisions, a common one being that lawyers needs to be on the Yorkshire Building Society approved list. in the past, most banks had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Yorkshire Building Society
I need some expedited conveyancing in Ryhall as I am under an ultimatum to exchange contracts inside one month. Thankfully I do not require a mortgage. Can I escape the need for conveyancing searches to save fees and time?
If.Given you are are a cash buyer you are at liberty not to do searches although no law firm would suggest that you don't. With plenty of history conveyancing in Ryhall the following are examples of what can show up and adversely impact future mortgageability: Enforcement Notices, Outstanding Charges, Overdue Grants, Road Schemes,...
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one near me in Ryhall I like with amenity areas and railway links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Ryhall in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you require a home loan the shortness of the lease will be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.
Myself and my husband have just had an offer agreed on a flat and had meeting on Monday with HSBC for the mortgage. They have informed me that when it comes to selecting a lawyer that if they are not on their approved panel of lawyers then we will be subject to an an extra charge of £200. This is because they would then have to instruct a solicitor to act on their behalf as well as the one we choose to act for ourselves and we are liable for their fees. I have asked HSBC to supply me with a list so I can request estimates only from their approved solicitors but was told they dont have such a list to hand over. Is there a simple way of finding out who is on a lender panel?
You can enquire of HSBC what their criteria for joining their panel is for a solicitor.Then ask the conveyancer of your choice whether they meet the criteria and have they acted on mortgages for HSBC in the past. If the answer to those is yes, then just double check with HSBC. Another option is to use our search tool and we may be able to locate a solicitor in Ryhall on the approved list for HSBC.