My partner and I intend to remortgage our apartment in Neath Port Talbot with Leeds Building Society. We have a son approaching twenty who lives with us. 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, waiving any legal rights in the event that the property is repossessed. I have two concerns (1) Is this document specific to the Leeds Building Society conveyancing panel as he never had 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 Leeds Building Society 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 Leeds Building Society. This is solely used to protect Leeds Building Society 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 Leeds Building Society 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.
Can I use your services to recommend a Conveyancing solicitor in Neath Port Talbot even where I’m not buying or selling a house, for instance where I intend to buy a shop in Neath Port Talbot with a loan from Santander?
Our search tool is primarily used to locate residential conveyancing solicitors in Neath Port Talbot but we have set out towards the end of this page a selection of Neath Port Talbot commercial conveyancing firms. You should enquire with the firm directly to see if they are also authorised to represent Santander
Please explain the implications if my lawyer’s firm is expelled from the Aldermore Conveyancing panel ahead of completing my conveyancing in Neath Port Talbot?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I opted to have a survey completed on a house in Neath Port Talbot before appointing solicitors. I have been told that there is a flying freehold element to the property. Our surveyor has said that some mortgage companies may not issue a loan on this type of home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. If you call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Neath Port Talbot. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Neath Port Talbot to see if the conveyancing costs will increase in light of this.
My partner has urged me to appoint his lawyers for conveyancing in Neath Port Talbot. Should I use them?
There are no two ways about it it’s preferable to select a conveyancing lawyer is to have recommendations from friends or family who have actually previously instructed the solicitor that you are are thinking of instructing.