My partner and I intend to remortgage our penthouse in White City with TSB. We have a son 18 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. 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 two concerns (1) Is this document specific to the TSB 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 TSB. This is solely used to protect TSB 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 TSB 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 note that you have a post code search directory identifying firms on the Barclays conveyancing panel. Do firms pay you a referral fee if I appoint them for our own conveyancing in White City?
We are a listing service only for law firms wishing to communicate if they are on the Barclays conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in White City.
My fiance and I are purchasing a purpose built flat in White City with a residential mortgage from Clydesdale.We would like to retain our White City conveyancing lawyer but Clydesdale informed us his firm is not listed on their approved list of firms. We have to appoint a Clydesdale panel lawyer or retain our high street solicitor and pay for a Clydesdale panel lawyer to act for them. We feel as though this is unjust; Can we not simply insist that Clydesdale use our lawyer?
Unfortunately,no. The loan offered to you contains various provisions, a common one being that solicitors needs to be on the Clydesdale approved list. Until recently, most banks had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Clydesdale
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. White City is where the house is located. Can you shed any light on this issue?
Flying freeholds in White City are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside White City you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in White City may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
How easy is it to use the search app to find a conveyancing practitioner in White City on the authorised to act for my lender?
First select a lender such as Barclays , Coventry Building Society or Bank of Ireland then type in your location for instance White City. Conveyancing firms in White City and further afield will then be identified.
My father has urged me to use his conveyancing solicitors in White City. Should I use them?
There are no two ways about it the ideal way to find a conveyancing practitioner is to have referrals from friends or family who have previously instructed the solicitor that you are contemplating using.