My wife and I swapping mortgage lender for our flat in Beaconsfield with Coventry BS. We have a son 19 who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Coventry BS conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) Does our son by signing this compromise his rights to inherit the property?
First, rest assured that your Coventry BS 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 Coventry BS. This is solely used to protect Coventry BS 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 Coventry BS 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 listing solicitors on the HSBC conveyancing panel. Do companies pay you a commission if I appoint them for our conveyancing in Beaconsfield?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Beaconsfield.
In reviewing mumsnet.com for a cheap solicitor in Beaconsfield, many comment that I should instruct a CQS kitemarked solicitor. Can you explain what CQS is?
Beaconsfield Conveyancing Quality Scheme solicitors have achieved accreditation by the law Society The Law Society created CQS to promote high standards in the in the legal transfer of properties. CQS helps consumers to identify solicitor firms who provide a quality residential conveyancing. Beaconsfield is one of the many areas in England and Wales in which accredited firms have a presence. The scheme requires law firms to undergo a strict assessment, compulsory training, self-certification, spot checks and annual reviews in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Legal Ombudsman.
How does conveyancing in Beaconsfield differ for newly converted properties?
Most buyers of new build or newly converted property in Beaconsfield come to us having been asked by the developer to sign contracts and commit to the purchase even before the residence is built. This is because house builders in Beaconsfield tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Beaconsfield or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a house in Beaconsfield prior to appointing lawyers. I have been told that there is a flying freehold element to the house. The surveyor has said that some lenders may not grant a loan on such a premises.
It depends who your proposed lender is. HSBC has different instructions for example to Nationwide. If you e-mail us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Beaconsfield. Conveyancing will be smoother if you use a solicitor in Beaconsfield especially if they are familiar with such properties in Beaconsfield.