My husband and I intend to remortgage our flat in Waddington with HSBC. 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. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the HSBC 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 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 HSBC. This is solely used to protect HSBC 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 HSBC 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.
Can I use your services to recommend a Conveyancing solicitor in Waddington even where I’m not purchasing or selling a house, for example if I intend to buy a shop in Waddington with a loan from Skipton Building Society?
Our search tool is predominantly utilised to find domestic conveyancing solicitors in Waddington but we have set out at the end of this page a few Waddington commercial conveyancing firms. You will need to speak with the company directly to establish if they can also act for Skipton Building Society
My wife and I are close to exchanging contracts on the sale of our home in Waddington and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. Any high street Waddington conveyancer would know this is not the case. It does beg the question why the purchasers are using a web based conveyancing firm as opposed to a conveyancing solicitor in Waddington. We have lived in Waddington for many years we know that this is a non issue. Should we contact our local Authority to get clarification need.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I am buying my first flat in Waddington with the aid of help to buy. The builders would not budge the price so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not to tell my lawyer about the extras as it will adversely affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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 element on a property I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Waddington is the location of the property. Can you offer any assistance?
Flying freeholds in Waddington are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Waddington you must be sure that your lawyer goes 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 Waddington may decide 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.