My partner and I swapping mortgage lender for our flat in Leek with Santander. 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, giving up any 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 Santander conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) Does our son by signing this giving up 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.
What does my ID and proof of funds have anything to do with my conveyancing in Leek? What am I being asked for?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with prior to agreeing to accepting their conveyancing business. The Client Care letter that you are required to sign will no doubt stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you are unwilling to supply ID verification documents, your solicitor would not be able to accept instructions from you.
After scouring moneysavingexpert.com for an affordable lawyer in Leek, many post that I must look for a CQS accredited solicitor. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with best practice conveyancing procedures via the scheme protocol It covers numerous organisations who handle conveyancing in Leek.
We are getting the release of further funds on our home loan from Lloyds as we wish to carry out improvements to our property in Leek. Do we need to appoint a bricks and mortar Leek solicitor on the Lloyds conveyancing panel to handle the legals?
Lloyds do not ordinarily appoint firms on their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Lloyds panel.
I am buying a property in Leek. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Lloyds be concerned?
Given that you are obtaining a mortgage with Lloyds your lawyer must comply with the conveyancing instructions outlined in Part two of UK Finance Lenders’ Handbook for Lloyds. The Council of Mortgage Lenders’ Handbook includes minimum conditions for solar panel roof-space leases, and solicitors are required to report to Lloyds where a lease does not meet these provisions. The conditions relate to the installation of panels on properties in England and Wales and is not limited to Leek.
My wife and I are in the throws of looking at houses in Leek and I am about to put in an offer. Should I already have a conveyancing practitioner in place at this stage? I will be getting a home loan with Barclays.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the selling agent. Given that you are taking out a mortgage with Barclays, make sure you remember to check that your lawyer is on the Barclays conveyancing panel.
My husband and I are novice buyers - agreed a price, but the selling agent has warned us that the owners will only proceed if we use the agent's chosen lawyers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a high street solicitor used to conveyancing in Leek
It is improbable the vendors are driving this. If they require ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Bypass the agents and go straight to the sellers and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you do not need to sell (d) you intend to proceed fast (e)but you are going to appoint your own,trusted Leek conveyancing solicitors - rather thanthe ones that will give the estate agent a kickback or meet his conveyancing targets demanded by senior management.