My husband and I intend to remortgage our apartment in Abingdon with UBS. We have a son 18 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is repossessed. I have a couple of questions (1) Is this form unique to the UBS conveyancing panel as he did not need to sign this form when we purchased 5 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 UBS. This is solely used to protect UBS 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 UBS 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.
Why is leasehold purchase conveyancing in Abingdon costs more?
Abingdon leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
There are a variety of conveyancing solicitors in Abingdon but how do I know who's good?
Do not opt for the cheapest Abingdon conveyancing costs illustration. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I am being advised by my solicitor that lack of planning permission insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Abingdon?
The right level of lack of planning permission indemnity insurance should be dictated by who who your lender is. It would differ for example between Barclays and The Mortgage Works. Conveyancing practitioners as opposed to borrowers take out such policies.
We had chosen conveyancing lawyers locally in Abingdon on the Bank of Ireland solicitor panel. They are now charging me a supplemental amount for dealing with the Bank of Ireland mortgage. Is this a supplemental conveyancing fee specified by Bank of Ireland?
Provided it is contained in their Terms and Conditions or estimate then yes your solicitor is entitled to levy a fee for this. This fee is not dictated by Bank of Ireland but by your Abingdon conveyancer. Plenty of firms on the Bank of Ireland panel will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
I require quick conveyancing in Abingdon as I have an ultimatum to complete in less than 2 weeks. Fortunately I do not need a mortgage. Is it possible to decline from having conveyancing searches to save money and time?
As you are not getting a mortgage you have the choice not to have searches carried out although no law firm would advise that you don't. Drawing on our experience of conveyancing in Abingdon the following are examples of issues that can be revealed and therefore affect future mortgageability: Enforcement Notices, Outstanding Fees, Outstanding Grants, Railway Schemes,...
We are seeking to acquire a repression house in Abingdon and the mortgagee in possession require completion within a week. Do lawyers complete in this timeframe? Would it be better to select a local Abingdon firm or an online company that professes to complete quickly?
Visit your Abingdon shopping parade. Go in to 3 companies and ask to see a conveyancing solicitor for a quote. Discuss your situation and seek assurances on deadlines. Choose the firm that comes across as most genuine. Make sure to choose a lawyer on the list of lawyers acceptable to your lender.