My partner and I changing mortgage lender for our flat in Tetbury with Co-operative. We have a son 18 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. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have two questions (1) Is this document specific to the Co-operative conveyancing panel as he did not need to sign this form when we purchased 5 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 Co-operative 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 Co-operative. This is solely used to protect Co-operative 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 Co-operative 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 wife and I buying a 4 bedroom semi-detached house in Tetbury. The intention is to convert the garage to a playroom at the property.Will legal investigations on the property include investigations to determine if these works are allowed?
Your conveyancer should review the registered title as conveyancing in Tetbury will sometimes reveal restrictions in the title deeds which prevent certain alterations or require the permission of another owner. Many additions call for local authority planning consent and approval in accordance building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these issues with a surveyor prior to committing yourself to a purchase.
I currently have a mortgage with Nationwide for my property in Tetbury. Conveyancing has been completed some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nationwide?
Your original mortgage agreement with Nationwide will provide that you need their approval before renting your property as this is likely to be a breach of Nationwide’s mortgage conditions. It may be that Nationwide will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nationwide directly. It should not be necessary to do this via a Nationwide conveyancing panel solicitor.
Our offer on a semi in Tetbury has been agreed to, the vendors do nevertheless have an associated purchase. The sellers have offered on on an apartment, however it’s not been accepted yet, and are looking at other apartments booked. I have instructed a nearby conveyancing solicitor in Tetbury. What should be my next step? At what point do I apply for the mortgage with UBS?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is approx £1k, then survey, Tetbury conveyancing search costs, etc). First, you should ensure that your conveyancing practitioner is on the UBS approved list. Regarding the subsequent stages this very much dictated by the uniqueness of your transaction, attraction to the property and on the state of the market. During a buoyant market many purchasers will apply for a home loan with UBS and pay for the valuation and only if it was satisfactory would they request their conveyancer to proceed with searches.
Various internet forums that I have visited warn that are a common cause of stalling in Tetbury house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances during the legal transfer of property. Searches are unlikely to feature in any delay in conveyancing in Tetbury.
I have recentlybecome aware that Wolstenholmes have been shut down. They conducted my conveyancing in Tetbury for a purchase of a freehold house 18 months ago. How can I check that the property is in my name in the name of the former proprietor?
The easiest method to check if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Tetbury conveyancing specialists.
I'm buying my first flat in Tetbury benefiting from help to buy. The developers refused to budge the amount so I negotiated 6k of additionals instead. The estate agent told me not to tell my solicitor about this extras as it could put at risk my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
My husband and I are 18 days into a leasehold purchase having been recommend to solicitors by the high street agent to do our conveyancing in Tetbury. I am not happy. Can you help me find new conveyancers?
They would need to be very bad to suggest changing them. Has the mortgage been sent? In the event that it has you must advise them of the replacement lawyer and have the mortgage documents are re-sent. Your conveyancer should be on the mortgage company approved list to avoid supplemental fees and complications. That should be your first question of the new conveyancers. Our search tool should assist you in finding a lender approved solicitor for your conveyancing in Tetbury