My fiance and I intend to remortgage our penthouse in Rhiwbina with Virgin Money. We have a son 19 who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Virgin Money conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
First, rest assured that your Virgin Money 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 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.
I am purchasing a semi-detached house in Rhiwbina. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Rhiwbina you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Rhiwbina.
My fiancee and I are in the process of viewing houses in Rhiwbina and I am now considering a potential offer. Should I already have a lawyer in place at this point? I am planning to take a mortgage with UBS.
It would be advisable to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. Given that you are seeking a mortgage with UBS, ask your prospective lawyers if they are on the UBS conveyancing panel otherwise they can't do the mortgage legal work.
I have today made my last payment due on my mortgage with UBS. I assume I don't need a Rhiwbina property lawyer on the UBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
I currently have a mortgage with Nottingham for my property in Rhiwbina. Conveyancing was finalised 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Nottingham?
Nottingham must be informed of your intention in advance of renting your property as this is likely to be a breach of Nottingham’s mortgage conditions. It may be that Nottingham will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nottingham directly. It should not be necessary to do this via a Nottingham conveyancing panel solicitor.
How does conveyancing in Rhiwbina differ for newly converted properties?
Most buyers of new build premises in Rhiwbina contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is completed. This is because builders in Rhiwbina typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Rhiwbina or who has acted in the same development.
Is it possible to switch firm as I need to instruct one who is on the Platform Home Loans Ltd conveyancing list. I had appointed a family conveyancing solicitor in Rhiwbina round the corner but she is not accepted by Platform Home Loans Ltd
We will our best to assist in finding you a conveyancing solicitor in Rhiwbina on the Platform Home Loans Ltd panel. Please note that the property lawyers that we on the directory do not pay us a referral fee if you instruct them and are regulated by the SRA who oversee all conveyancing solicitors in Rhiwbina. In utilising the find a conveyancing solicitor tool on this page, you can scrutinise charges for conveyancing solicitors in Rhiwbina and beyond.