My husband and I swapping mortgage lender for our flat in Timsbury with Santander. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose 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 flat is repossessed. I have two concerns (1) Is this document specific to the Santander 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?
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 Santander. This is solely used to protect Santander 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 Santander 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.
It is a dozen years since I bought my property in Timsbury. Conveyancing solicitors have now been instructed on the sale but I am unable to track down the deeds. Is this a problem?
Don’t worry too much. Firstly there is a possibility that the deeds will be retained by the lender or they could stored with the conveyancers who acted in your purchase. Secondly in all probability the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors procuring current official copies of the land registers. Most conveyancing in Timsbury involves registered property but in the rare situation where your home is unregistered it adds to the complexity but is not insurmountable.
We wanted to use a conveyancing solicitor in Timsbury for our house purchase. Our broker informed us that our bank Bank of Scotland won't deal with them. Why is this not regarded as unfair competition?
A bank will direct that a panel conveyancer act for it. Borrowers are expected to meet the cost of this. Try using our directory service to find a solicitor to carry conveyancing in Timsbury on the Bank of Scotland member panel.
Will commercial conveyancing searches reveal planned roadworks that may impact a commercial site in Timsbury?
Its becoming the norm that commercial conveyancing solicitors in Timsbury will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Timsbury. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Timsbury.
For every commercial conveyancing transaction in Timsbury it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could result in delays to Timsbury commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in Timsbury.
I am buying a new build house in Timsbury with a mortgage from TSB. The developers would not reduce the price so I negotiated five thousand pounds worth of extras instead. The sale representative told me not to tell my conveyancer about the extras as it could jeopardize my mortgage 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 uncle has suggested that I instruct his lawyers for conveyancing in Timsbury. Do I take his guidance?
Much as we are happy to recommend a Timsbury conveyancing lawyer it’s preferable to choose a conveyancing practitioner is to have guidance from friends or family who have experience in using the solicitor you're considering.