My partner and I are refinancing our penthouse in West Moors with Bank of Ireland. 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. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this form unique to the Bank of Ireland conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Bank of Ireland 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 Bank of Ireland. This is solely used to protect Bank of Ireland 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 Bank of Ireland 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.
A colleague suggested that if I am purchasing in West Moors I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard West Moors conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about West Moors around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the West Moors Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, West Moors Education with plans and statistics, Local Amenities and other useful information concerning West Moors.
I decided to have a survey completed on a house in West Moors ahead of instructing solicitors. I have been told that there is a flying freehold aspect to the house. My surveyor advised that some banks will refuse to grant a mortgage on such a house.
It varies from the lender to lender. Santander has different instructions for example to Nationwide. Should you wish to call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in West Moors. Conveyancing will be smoother if you use a solicitor in West Moors especially if they are acquainted with such properties in West Moors.
Do I need to be concerned that estate agents that I am dealing with are encouraging me to use an internet conveyancing firm rather than a local West Moors conveyancing firm?
As with many service providers, often input from family and friends can be worth their weight in gold. Yet there are numerous players in a conveyancing transaction; estate agents, mortgage brokers and lenders may put forward conveyancers to retain. On occasion the conveyancers might be known to one of the organisations as being good in their field, but occasionally there behind the scenes commercial relationship behind the recommendation. You have the right to appoint your own lawyer. You need to be aware that the majority of lenders operate an approved list of law firms you are obliged to use for the mortgage related work in your conveyancing.
I am a fortnight into a residential purchase having been recommend to conveyancers by the local agent to handle our conveyancing in West Moors. We are not happy. Can you you assist me in finding new conveyancers?
They would need to be very poor to suggest replacing them. Has the loan offer been generated? If so you need to inform them of the new solicitor and get the loan are issued to the new lawyers. The solicitor ideally needs to be on the mortgage company approved list to avoid supplemental costs and complications. That should be your starting point. Our find a solicitor tool should help you find a lender approved conveyancer for your conveyancing in West Moors