My fiance and I intend to remortgage our maisonette in Walsall with Skipton. We have a son approaching twenty who lives at home. 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 flat is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Skipton conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) Does our son by signing this extinguish his rights 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 Skipton. This is solely used to protect Skipton 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 Skipton 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.
Completed the sale of my flat in Walsall last April yet the purchaser is telephoning me to moan that her conveyancer needs to hear from mylawyer. What should my lawyer have done now that I have sold?
Following your sale your conveyancer is committed to forward the transfer deeds and all supplemental paperwork to the purchaser's lawyers. If applicable, your conveyancer should also confirm that the home loan has been redeemed to the purchasers lawyers. There is unlikely to be post completion tasks peculiar conveyancing in Walsall.
About to purchase maisonette in Walsall. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Leeds Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Walsall conveyancing practitioner is on the Leeds Building Society conveyancing panel.
I was told two weeks ago that my mortgage has been agreed to by Kent Reliance. Is it usual for Kent Reliance to only issue the offer once my solicitor in Walsall is approved on their conveyancing panel? Kent Reliance have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Kent Reliance to deal with your lawyer's application to be on the Kent Reliance conveyancing panel. There's no guarantee that your solicitor will be accepted.
Clydesdale have agreed my mortgage in principle, my bid on a flat in Walsall has been accepted, what happens next?
Your estate agent will want to know who your solicitors are (be sure the conveyancing practitioners are on the lender’s approved list). Telephone Clydesdale or your broker and finalise any outstanding forms. Clydesdale will instruct a valuer who will get in contact with the selling agent or seller to book a slot for the valuation to happen. Once conducted (assuming no problems) it takes approximately ten days to receive the mortgage offer. Clydesdale will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Walsall.
I'm buying a new build house in Walsall with a mortgage from Platform Home Loans Ltd. The developers would not reduce the amount so I negotiated 6k of extras instead. The property agent suggested that I not disclose to my lawyer about the side-deal as it will jeopardize my loan with Platform Home Loans Ltd. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Why do Walsall conveyancing charges are higher for leasehold and freehold properties?
When acquiring a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control