My wife and I intend to remortgage our maisonette in Wooburn Green with RBS. We have a son approaching twenty who lives at home. Our solicitor requested us to identify anyone over the age of 17 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 two questions (1) Is this form unique to the RBS conveyancing panel as he never had 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?
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 RBS. This is solely used to protect RBS 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 RBS 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.
Should conveyancers request money on account for conveyancing in Wooburn Green?
Where you are retaining lawyers for conveyancing in Wooburn Green your solicitor will request that you to provide them with monies to cover the search fees. Generally this is requested to cover the fees of the conveyancing searches. If any deposit is payable against the total price then this should be asked for shortly in advance of contracts are exchanged. The closing balance that is due will be payable a couple of days ahead of the day of completion.
When it comes to lenders such as Leeds Building Society, do Wooburn Green conveyancing practitioners have to pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I'm in the process of looking at houses in Wooburn Green and I am about to put in an offer. Should I already have a solicitor in place at this point? I will be getting a home loan with Clydesdale.
It would be prudent to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. As you are obtaining a mortgage with Clydesdale, ask your prospective lawyers if they are on the Clydesdale conveyancing panel otherwise they can't do the mortgage legal work.
I can not fathom if my bank requires a lease extension. I have called into my local Wooburn Green building society branch on a couple of occasions and was reassured it wasn't an issue and they would lend. My Wooburn Green conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they refuse to lend in accordance with their published requirements. Who do I believe?
As long as the conveyancing practitioner is on the mortgage company panel, she or he must follow the CML Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
What does commercial conveyancing in Wooburn Green cover?
Non domestic conveyancing in Wooburn Green incorporates a wide range of guidance, offered by qualified solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
Am I best advised to appoint a Wooburn Green conveyancing solicitor based in the area that I am buying? We have a good friend who can carry out the legal work but they are based 200miles away.
The benefit of a high street Wooburn Green conveyancing firm is that you can pop in to sign documents, present your identification documents and apply pressure on them if necessary. They will also have local insight which is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and the majority were impressed that should trump using an unfamiliar Wooburn Green conveyancing lawyer solely due to them being Wooburn Green based.