My husband and I are refinancing our apartment in Newhaven with HSBC. We have a son 19 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this document specific to the HSBC conveyancing panel as he never had to sign this form when we purchased 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 HSBC. This is solely used to protect HSBC 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 HSBC 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.
When it comes to lenders such as Nationwide, do Newhaven conveyancers have to pay a yearly amount to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I have decided to exercise my right to buy my property in Newhaven off the council. I have a mortgage offer with Bank of Ireland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
The formalities of my remortgage has taken place for my property in Newhaven. Conveyancing was a necessary evil but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Will commercial conveyancing searches reveal impending roadworks that could impact a commercial land in Newhaven?
Many commercial conveyancing solicitors in Newhaven will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Newhaven. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Newhaven.
For each commercial conveyancing transaction in Newhaven it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Newhaven commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Newhaven.
I have been on the look out for a leasehold apartment up to £195,000 and found one close by in Newhaven I like with open areas and railway links in the vicinity, the downside is that it only has 51 years on the lease. I can't really find anything else in Newhaven suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the shortness of the lease will likely be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
Whilst your website is a good idea there are many lawyers listed near Newhaven being on the bank conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the mortgage company approved panel?
We are not in the business of recommending one firm above another as the right Newhaven conveyancing firm for you depends on where your priorities lie. For example you may require a local firm with Newhaven knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..