My fiance and I are refinancing our maisonette in Stansted with UBS. 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. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this document specific to the UBS conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your UBS 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 UBS. This is solely used to protect UBS 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 UBS 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.
Are the Stansted conveyancing solicitors identified as being on the TSB conveyancing panel, together with their details provided by TSB?
Stansted 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 wife and I are spending time looking at houses in Stansted and I am now considering a potential offer. Is it best to have a conveyancer on ‘stand by’? I intend to finance via a mortgage with Leeds Building Society.
It would be sensible to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. As you are getting a mortgage with Leeds Building Society, ask your prospective lawyers if they are on the Leeds Building Society conveyancing panel otherwise they can't do the mortgage legal work.
After months of negotiation I have agreed a price on a house in Stansted. My financial adviser pressured me to appoint their lawyer. I paid an on account payment of £200. A couple of days later, the lawyer called me embarrassingly acknowledging that they were not on the Bank of Ireland conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Bank of Ireland panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Intending to buy a maisonette in Stansted. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the HSBC conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Stansted conveyancing practitioner is on the HSBC conveyancing panel.
Just acquired a semi-detached house in Stansted , What is the estimated time for the Land Registry to deal with the formalities evidencing the transfer to my name? My Stansted conveyancing solicitor has been painfully slow, so I want to be certain the land registry aspects are addressed.
As far as conveyancing in Stansted is concerned, registration is no quicker or slower than the rest of England and Wales. Rather than based on location, timeframes can adjust subject to the party submitting the application, whether it is in order and whether the Land registry need to notify any interested parties. As of today in the region of three quarters of submission are fully dealt with within two weeks but occasionally there can be protracted hold-ups. Registration occurs after the purchaser is living at the property thus registration formalities is not typically an essential issue but where there is a degree of urgency associated with the registration then you or your conveyancer must contact the land registry and explain the circumstances.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one near me in Stansted I like with a park and station in the vicinity, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Stansted suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan that many years will likely be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
How do I search for a Stansted law firm on the Britannia conveyancing panel? I have a car and am happy to travel upto 25kilometers to meet the solicitor.
You can use the facility on this page. Please choose the bank and your location and you will see a number of Stansted conveyancing lawyers locally. We have detailed some Stansted conveyancing firms towards the end of this page and you can call them to see if they are on the Britannia panel