My wife and I are refinancing our penthouse in Ince in Makerfield with Bank of Ireland. We have a son 18 who lives with us. 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 property is repossessed. I have a couple of concerns (1) Is this document specific to the Bank of Ireland conveyancing panel as he did not need to sign this form when we remortgaged 3 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.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Ince in Makerfield?
There are many registered licenced Conveyancers in Ince in Makerfield and Solicitor firms in Ince in Makerfield who provide Conveyancing services It is important to make clear that both are regulated professionals specialising in the legal aspects of the home buying process. Both can conduct associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
How can we know in advance if a Ince in Makerfield conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Ince in Makerfield seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer carrying out your transaction.
I recently had an offer accepted on a house in Ince in Makerfield. My mortgage broker pressured me to appoint their conveyancing practitioner. I paid an upfront payment of £200. Soon after, the lawyer contacted me to say that they were not on the Bank of Ireland conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Bank of Ireland panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My wife and I purchased a 4 bedroom Victorian house in Ince in Makerfield. Conveyancing solicitor acted for me and Barclays Direct. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ince in Makerfield and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with your conveyancing solicitor who conducted the purchase.
I opted to have a survey done on a property in Ince in Makerfield ahead of instructing lawyers. I have been advised that there is a flying freehold aspect to the property. The surveyor advised that some banks may not grant a mortgage on a flying freehold home.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. Should you wish to call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Ince in Makerfield. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ince in Makerfield to see if the conveyancing costs will increase in light of this.
Should I go with a Ince in Makerfield conveyancing solicitor who is local to the property I am purchasing? An old friend can carry out the legal work however her office is 200miles away.
The primary upside of using a high street Ince in Makerfield conveyancing firm is that you can drop in to sign documents, deliver your identification documents and apply pressure on them where appropriate. Having local Ince in Makerfield know how is a benefit. That being said nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and on the whole were content that should outweigh using an unknown Ince in Makerfield conveyancing lawyer just because they are round the corner.