My partner and I intend to remortgage our penthouse in Kirkby with Virgin Money. We have a son 19 who lives at home. Our solicitor has asked us to disclose 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 property is repossessed. I have a couple of questions (1) Is this form unique to the Virgin Money conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) Does our son by signing this giving up 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 Virgin Money. This is solely used to protect Virgin Money 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 Virgin Money 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.
We are planning on selling our home in Kirkby and according to the buyers it appears that there is a risk of it being constructed on contaminated land. A local lawyer would know this is not the case. It does beg the question why the buyers are using a factory type conveyancing firm as opposed to a conveyancing solicitor in Kirkby. Having lived in Kirkby for many years we know of no issue. Do we get in touch with our local Authority to obtain confirmation that there is no issue.
It would appear that you have a conveyancing solicitor currently acting for you. Are they able to advise? You should enquire of 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 health insurance to cover that same ailment)
Due to the advice of my in-laws I had a survey completed on a house in Kirkby before appointing solicitors. I have been advised that there is a flying freehold element to the property. My surveyor has said that some banks will refuse to give a mortgage on this type of property.
It depends who your proposed lender is. HSBC has different requirements for example to Halifax. If you call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Kirkby. Conveyancing may be slightly more expensive based on your lender's requirements.
I am using a search engine for the words on line conveyancing in Kirkby it shows results of many property lawyersin the vicinity. With so much choice what is the best way to find the suitable solicitor for my move?
The best method of seeking a suitable conveyancer is via trusted testimonial, so seek the opinion of colleagues and those you trust who have acquired a property in Kirkby or the reputable estate agent or financial adviser. Fees for conveyancing in Kirkby differ, so it's a good idea to request at least four fee calculations from varying types of law firms. Be sure to obtain confirmation what costs in the quote includes.
Do I stop my mortgage payments with Barclays as soon as a completion date for my home sale in Kirkby has been agreed?
You are best advised to maintain paying any mortgage payments to Barclays pending the mortgage being redeemed on completion as part of your Kirkby conveyancing.