My husband and I swapping mortgage lender for our apartment in Chaddesden with Santander. We have a son approaching twenty who lives with us. 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 property is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Santander conveyancing panel as he never had to sign this form when we purchased 4 years ago (2) Does our son by signing this extinguish his entitlement 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 Santander. This is solely used to protect Santander 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 Santander 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 intend to purchase a purpose built flat in Chaddesden with a loan from Halifax.We use our Chaddesden conveyancing lawyer but Halifax informed us her practice is not on their approved list of member firms. we are left little option but to use a Halifax panel lawyer or retain our high street solicitor and fork out for a Halifax panel lawyer to act for them. We feel as though this is unjust; Can we not simply insist that Halifax use our lawyer?
Unfortunately,no. The loan offered to you contains terms and conditions, one of which will be that lawyers needs to be on the Halifax conveyancing panel. Until recently, most lenders had large numbers of law firms 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 lawyer to apply to be on the conveyancing panel for Halifax
When it comes to lenders such as Nottingham, do Chaddesden property lawyers face a yearly amount to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
Does a directory service exist listing Lloyds panel conveyancers in Chaddesden on the Council of Mortgage Lender’s Website?
No. There is no such tool on the CML or Building Society Association websites. Very few banks make their panel listings viewable over the internet. Where you are looking for a Chaddesden conveyancer on the Lloyds please make the most of our facility.
I've read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Chaddesden solicitor - who is on the HSBC conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC 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 Chaddesden 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.
Due to the encouragement of my in-laws I had a survey completed on a house in Chaddesden prior to appointing solicitors. I have been told that there is a flying freehold aspect to the property. Our surveyor advised that some lenders tend not issue a loan on this type of premises.
It varies from the lender to lender. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Chaddesden. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Chaddesden to see if the conveyancing costs will increase in light of this.
As co-executor for the will of my father I am selling a house in Swansea but I am based in Chaddesden. My lawyer (approximately 300 miles from meneeds me to sign a statutory declaration before the transaction finalising. Could you suggest a conveyancing solicitor in Chaddesden to attest this legal document for me?
Technically speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are Chaddesden based