My husband and I swapping mortgage lender for our apartment in Upton Park with Barclays. We have a son 19 who lives with us. 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, giving up any rights in the event that the property is repossessed. I have two concerns (1) Is this form unique to the Barclays conveyancing panel as he did not need to sign this form when we bought 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 Barclays. This is solely used to protect Barclays 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 Barclays 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.
Having sold my house in Upton Park last May yet the purchaser is Skype messaging every few hours to moan that her solicitor needs to hear from mylawyer. What should my lawyer have done now that I have sold?
Following your disposal your conveyancer should send the transfer documentation and all of the paperwork to the buyer’s lawyers. Where relevant, your solicitor must also confirm that the mortgage has been repaid to the buyers conveyancers. There is unlikely to be post completion requirements specific conveyancing in Upton Park.
My home in Upton Park is up for sale and I have a buyer. Does my lawyer have to be required to be on the Principality conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Principality conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
Will our lawyer be raising enquiries regarding flooding during the conveyancing in Upton Park.
Flooding is a growing risk for solicitors carrying out conveyancing in Upton Park. There are those who purchase a house in Upton Park, fully aware that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, however there are a various searches that can be initiated by the purchaser or by their conveyancers which can give them a better understanding of the risks in Upton Park. The conventional set of information given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the seller to discover whether the property has suffered from flooding. If the residence has been flooded in past which is not disclosed by the owner, then a buyer could bring a compensation claim as a result of such an inaccurate response. A purchaser’s lawyers will also conduct an environmental search. This will indicate if there is any known flood risk. If so, additional inquiries should be made.
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