My fiance and I are refinancing our flat in Fairbourne with Barclays. We have a son 18 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 flat is repossessed. I have a couple of questions (1) Is this form unique to the Barclays conveyancing panel as he did not need to sign this form when we remortgaged 3 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 Barclays. This is solely used to protect Barclays 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 Barclays 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 are aiming to move house in August. Does my conveyancing solicitor call the removal company on the completion day. Incidentally, can you recommend a removal company in Fairbourne. Conveyancing firm was organised prior to coming across this website.
On the day of completion you will need to collect the house keys from your estate agent however this can only take place when the vendors lawyers confirm to the agent that the monies to complete are in and the keys can be released. After that you can tell the removal company that they can start moving you in. As a matter of policy we do not recommend a specific removal company but can help you find a residential property solicitor in Fairbourne or a solicitor with expertise in conveyancing in Fairbourne.
Is it the case that all Fairbourne CQS (Conveyancing Quality Scheme) solicitors are on the Nottingham conveyancing panel?
It is true that some lenders now make use of CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
Two weeks ago we had a mortgage agreed in principle with UBS. Fairbourne conveyancing solicitors were selected. What is the average time that one could expect to receive a mortgage offer from UBS?
There is no definitive answer here. Have UBS completed the valuation? Have you informed UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Should commercial conveyancing searches reveal impending roadworks that could affect a commercial site in Fairbourne?
Its becoming the norm that commercial conveyancing solicitors in Fairbourne will carry out a SiteSolutions Highways report as it reduces the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Fairbourne. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Fairbourne.
For each commercial conveyancing transaction in Fairbourne it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could result in delays to Fairbourne commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Fairbourne.
I'm purchasing a new build house in Fairbourne with the aid of help to buy. The developers would not move on the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep suggested that I not inform my conveyancer about the extras as it will jeopardize my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a quick, chain free conveyancing. Fairbourne is the location of the property. What do you suggest?
Flying freeholds in Fairbourne are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Fairbourne you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fairbourne may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.