My fiance and I intend to remortgage our apartment in Twyford with HSBC. We have a son approaching twenty who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this document specific to the HSBC conveyancing panel as he did not need to sign this form when we remortgaged 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 HSBC. This is solely used to protect HSBC 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 HSBC 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.
We are looking to buy a house and need a conveyancing solicitor in Twyford who is on the RBS approved panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for RBS . We don't recommend any particular firms conducting conveyancing in Twyford.
Is it necessary to pay for insurance to address the risk of chancel repairs when buying a residence in Twyford?
Unless a previous purchase of the property completed post 12 October 2013 you can expect lawyers handling conveyancing in Twyford to continue to advocate a chancel search and or chancel repair liability insurance.
2 months have gone by since my purchase conveyancing in Twyford concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Do I need to be suspicious by brokers that I am dealing with are recommending a web based conveyancing firm as opposed to a local Twyford conveyancing practice?
As is the case with lots of service providers, often recommendations from connections can be worth their weight in gold. But there are numerous parties with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and lenders might all suggest conveyancers to instruct. Sometimes the lawyers might be known to one of the organisations as experts in their field, but sometimes there behind the scenes commercial relationship behind the recommendation. You have the discretion to choose your preferred lawyer. However, bear in mind that most mortgage providers specify a panel list of solicitors you have to use for the mortgage related work in your conveyancing.
My uncle has suggested that I use his conveyancers in Twyford. Should I find my own solicitor?
There are no two ways about it the ideal way to find a conveyancing practitioner is to get feedback from friends or relatives who have actually used the firm that you are considering.