My fiance and I changing mortgage lender for our flat in Whitehaven with Barclays. We have a son 19 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, waiving any legal rights in the event that the property is repossessed. I have two questions (1) Is this form unique to the Barclays conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
First, rest assured that your Barclays 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 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.
What does my ID and proof of funds have anything to do with my conveyancing in Whitehaven? What am I being asked for?
You are right in the requirement set out by your lawyer has nothing to do with conveyancing in Whitehaven. However these days you will not be able to complete any conveyancing transaction in the absence handing over evidence of your identity. This usually takes the form of a either your passport or driving licence as well as a utility bill. Please note that if you are supplying your driving licence as proof of ID it must be both the paper element and photo card part, one is not sufficient without the other.
Proof of your source of money is necessary under Money Laundering Regulations. Don’t be offended when you are asked to produce this as your conveyancer must have this information on file. Your Whitehaven conveyancing solicitor will need to see evidence of proof of funds prior to accepting any monies from you into their client account and they should also ask further questions concerning the source of funds.
I am considering applying for a Yorkshire BS mortgage for purchase of a new build (under development) in Whitehaven with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Yorkshire BS ?
In theory, you could use a solicitor that is not on the Yorkshire BS conveyancing panel, but Yorkshire BS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I appreciate that there are debates on Chancel Insurance on online forums. Do I need this when purchasing a property in Whitehaven? or I am told that there is historic law that could mean that house owners residing in a parish church boundary may be liable to pay for repairs to the chancel in proximity to the church. Is this relevant for conveyancing in Whitehaven?
Unless a prior purchase of the premises completed post 12 October 2013 you could expect solicitors conducting conveyancing in Whitehaven to continue to advocate a chancel search and or insurance against a claim.
I need to appoint a conveyancing solicitor for residential conveyancing in Whitehaven. I've stumble across a site which looks to be the ideal answer If there is a chance to get all the legals completed via email that would be ideal. Should I be concerned? What should out be looking out for?
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?
Looking forward to complete next month on a ground floor flat in Whitehaven. Conveyancing lawyers have said that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Whitehaven should include some of the following:
-
Are you allowed to have a pet in the flat? Repair and maintenance of the property You should be sent a copy of the lease Your solicitors should enable you to have an understanding of the building insurance provisions How long the lease is. You should receive guidance as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
I own a 1st floor flat in Whitehaven, conveyancing formalities finalised in 2010. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Whitehaven with a long lease are worth £197,000. The ground rent is £55 invoiced every year. The lease finishes on 21st October 2081
With 56 years left to run the likely cost is going to be between £29,500 and £34,000 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.