My partner and I changing mortgage lender for our apartment in Snaresbrook with Leeds Building Society. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this document specific to the Leeds Building Society 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?
First, rest assured that your Leeds Building Society 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 Leeds Building Society. This is solely used to protect Leeds Building Society 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 Leeds Building Society 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.
As someone with no idea as to the Snaresbrook conveyancing process what is your top tip you can give me concerning the ownership transfer in Snaresbrook
You may not hear this from too many lawyers but conveyancing in Snaresbrook and elsewhere in England and Wales is an adversarial process. In other words, when it comes to conveyancing there is plenty of opportunity for confrontation between you and other parties involved in the transaction. E.g., the vendor, property agent and sometimes the bank. Selecting a law firm for your conveyancing in Snaresbrook an important selection as your conveyancer is your adviser, and is the ONE party in the legal process whose interest is to look after your legal interests and to protect you.
Every so often a third party with a vested interest may try and persuade you that it is in your interests to do things their way. As an example, the estate agent may claim to be assisting by suggesting your solicitor is dragging his heels. Or your mortgage broker may advise you to do something that is contrary to your solicitors recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
My wife and I have recently appointed a conveyancing solicitor in Snaresbrook. I I would like to check whether they are on the Bank of Ireland approved list of lawyers. Could you advise?
The first thing you should do is contact the solicitor and ask them if they are on the lender panel. Otherwise you can call Bank of Ireland who may be able to help.
What does a local search inform me concerning the property my wife and I purchasing in Snaresbrook?
Snaresbrook conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search company such as Searches UK The local search plays a central role in many a Snaresbrook conveyancing purchase; that is if 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 areas.
In my capacity as executor for the will of my grandmother I am disposing of a house in Newport but reside in Snaresbrook. My solicitor (approximately 300 miles awayrequires that I execute a stat dec ahead of completion. Could you suggest a conveyancing practitioner in Snaresbrook who can witness and place their company stamp on the document?
Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are Snaresbrook based
My husband and I have agreed a price on a Snaresbrook bungalow we inherited six years ago in 2009. I have over a decades worth of conveyancing experience and, now retired, see no reason not to conduct the conveyancing. The purchaser's conveyancing practitioner has informed me that their building society will not allow us to do our own conveyancing insisting the funds to be transferred to a solicitor's bank account.
Lending instructions to conveyancers from all mainstream lenders state that If the seller does not have legal representation the borrower's lawyers should check whether the lender needs to be notified so that a decision can be made as to whether or not they are prepared to progress.