My fiance and I are refinancing our apartment in Thorpe St Andrew with Lloyds. We have a son approaching twenty who lives at home. Our solicitor requested us to identify any adults 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 property is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Lloyds conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Lloyds 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 Lloyds. This is solely used to protect Lloyds 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 Lloyds 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.
I have been advised by my solicitor that flying freehold insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Thorpe St Andrew?
The appropriate level of flying freehold indemnity insurance should be dictated by who who your lender is. It would differ for example between Halifax and Skipton Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
Is it the case that all Thorpe St Andrew solicitor firms on the Kent Reliance conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Kent Reliance conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. The majority of mortgage companies do list licenced conveyancers on their panel and in such a situation the firms would be regulated by the Council of Licensed Conveyancers.
Can I be sure that the Thorpe St Andrew conveyancing solicitor on the Coventry BS panel is any good?
When it comes to conveyancing in Thorpe St Andrew seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the solicitor conducting your transaction.
Should our lawyer be raising enquiries concerning flooding during the conveyancing in Thorpe St Andrew.
The risk of flooding is if increasing concern for lawyers dealing with homes in Thorpe St Andrew. There are those who purchase a house in Thorpe St Andrew, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, however there are a various searches that may be carried out by the purchaser or by their conveyancers which will give them a better appreciation of the risks in Thorpe St Andrew. The standard completed inquiry forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the owner to determine whether the premises has suffered from flooding. If the property has been flooded in past and is not disclosed by the seller, then a purchaser may issue a compensation claim as a result of such an misleading answer. A purchaser’s solicitors will also commission an enviro search. This should disclose whether there is any known flood risk. If so, further inquiries will need to be initiated.
I have been on the look out for a flat up to £195,000 and found one near me in Thorpe St Andrew I like with amenity areas and station nearby, however it's only got 61 years unexpired on the lease. I can't really find anything else in Thorpe St Andrew for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a home loan the remaining unexpired lease term will likely be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you can 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 speak to your conveyancing solicitor concerning this.
I am downsizing from my house. My previous solicitors have shut. I am in need of a recommendation of a conveyancing firm. I happen to live in Thorpe St Andrew if that makes a difference.
Do use our search tool to help you choose a solicitor for your conveyancing in Thorpe St Andrew. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
I need to retain a conveyancing solicitor for sale conveyancing in Thorpe St Andrew. I've land on a web site which appears to be the ideal offering If it is possible to get all formalities completed via email that would be ideal. Should I 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?