My husband and I intend to remortgage our maisonette in Covent Garden with Kent Reliance. We have a son 18 who lives at home. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. The solicitor has now sent a form 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 questions (1) Is this document specific to the Kent Reliance conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your Kent Reliance 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 Kent Reliance. This is solely used to protect Kent Reliance 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 Kent Reliance 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.
After reading mumsnet.com for a conveyancing lawyer in Covent Garden, many say that I should use a CQS accredited solicitor. Can you explain what CQS is?
Covent Garden Conveyancing Quality Scheme practices have achieved certification under the Law Society's Scheme (CQS) The Law Society created CQS to promote high standards in the in the legal transfer of properties. CQS helps house movers to recognise solicitor firms that provide a quality residential conveyancing. Covent Garden is one of locations in England and Wales in which accredited firms are based. The conveyancing scheme obliges law firms to undergo a strict assessment, compulsory training, self-certification, random audits 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 Covent Garden differ for new build properties?
Most buyers of new build or newly converted property in Covent Garden approach us having been asked by the developer to sign contracts and commit to the purchase even before the premises is built. This is because house builders in Covent Garden tend to buy the site, 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 property lawyers 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 used to new build conveyancing in Covent Garden or who has acted in the same development.
As co-executor for the will of my aunt I am disposing of a house in Newport but reside in Covent Garden. My lawyer (who is 300 miles awayhas requested that I execute a statutory declaration before completion. Could you suggest a conveyancing lawyer in Covent Garden to attest this legal document for me?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will do regardless of whether they are located in Covent Garden
How easy is it to change a solicitor as I need to find a Covent Garden based firm who is on the bank conveyancing panel. Is it advisable to appoint a new law firm?
If you haven't yet appointed a solicitor to start work and at this stage simply received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Covent Garden that you're considering.