My fiance and I are refinancing our flat in Arlesey with Lloyds. We have a son approaching twenty who lives at home. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Lloyds conveyancing panel as he never had to sign this form when we remortgaged 5 years ago (2) Does our son by signing this compromise his rights 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 Lloyds. This is solely used to protect Lloyds 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 Lloyds 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.
I am mortgaging my home in Arlesey, does my lawyer need to be on the Principality Conveyancing panel?
In theory, you could use a solicitor that is not on the Principality conveyancing panel, but Principality 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 conveyancing matter.
We had chosen solicitors located in Arlesey on the TSB solicitor panel. They have just invoiced me a supplemental amount for the legal aspects of the TSB mortgage. Is this an additional conveyancing fee specified by TSB?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your property lawyer is entitled to levy a fee for this. The charge is not dictated by TSB but by your Arlesey property lawyer. Numerous firms on the TSB panel will quote ’dealing with mortgage’ fee but some practices include it on their overall fee.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Arlesey building society branch on various occasions and was told it does not impact the mortgage offer and they would lend. My Arlesey conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they refuse to lend in accordance with their published requirements. I have no idea who is right.
Provided that the conveyancer is on the lender panel, they must adhere to the CML Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I've digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Arlesey solicitor - who is on the Yorkshire BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Arlesey surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
How do I search for a Arlesey solicitor on the HSBC Bank conveyancing panel? I have wheels and am willing to travel upto 20kilometers to meet the conveyancer.
Feel free to make use of the facility on this website. Please choose the lender and your location and you will see a number of Arlesey conveyancing lawyers based on proximity. We have detailed some Arlesey conveyancing firms towards the end of this page and you can ring them to see whether they are on the HSBC Bank member panel
I am looking to buy a repossessed flat in Arlesey and the bank selling demand completion inside 28 days. Can a solicitor complete in this timeframe? Would it be better to use a local Arlesey firm or an online firm that advertises to complete quickly?
Visit your Arlesey shopping parade. Pop in to a couple of solicitor’s offices and request to talk to a conveyancing solicitor for a quote. Discuss your needs and try and obtain assurances on deadlines. Appoint the firm that comes across as most efficient. You need to use a conveyancing practitioner on the panel of solicitors who can act for your lender.