My partner and I are refinancing our apartment in Willerby with HSBC. We have a son 19 who lives at home. Our solicitor has asked us to disclose any adults 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 flat is repossessed. I have a couple of questions (1) Is this document specific to the HSBC conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) Does our son by signing this compromise his rights to inherit the property?
First, rest assured that your HSBC 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 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.
five months have elapsed following my purchase conveyancing in Willerby took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. 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 premises 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.
I am buying a new build flat in Willerby. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Willerby
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I have been advised by a number of selling agents in Willerby to locate a solicitor using your seach tool. Is there a financial inducement for Estate Agents to market your lawyers over and above alternative conveyancing organisations?
We refuse to make any financial incentive for sending work to this site. We found it would be just too difficult a fee as a client could think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
In my capacity as executor for the estate of my father I am disposing of a residence in Monmouth but I am based in Willerby. My solicitor (approximately 300 kilometers awayhas requested that I execute a stat dec prior to the transaction finalising. Can you recommend a conveyancing solicitor in Willerby who can attest this legal document for me?
strictly speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will be fine regardless of whether they are Willerby based
My husband and I are buying a studio flat in Willerby. When we first instructed conveyancing practitioner, they assured us that they were on all mainstream mortgage company panels. The financial adviser contacted us just now to advise that they are not on the UBS approved list. Should that be true, what should we do? Should we just choose a different solicitor that is on their panel or should we pay for dual representation, with UBS selecting their own approved solicitor.
When acquiring a property with the benefit of a mortgage it is conventional for the buyer’s lawyers to also represent the mortgage company. In order to act for a bank or building society a lawyer has to be on that lender's conveyancing panel. An application has to be made by the lawyer to the lender to become a member of the lender's panel and there are increasingly strict criteria which the lawyer has to satisfy. Some lenders now insist their panel firms to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact UBS and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on UBS's conveyancing panel and you may continue to use your own Willerby solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.