We went with a local lawyer for our conveyancing in Hope today. Going through the official terms of business I noteI am on the hook for charges even if the sale aborts. Should I go with them or appoint a web based solicitor practice promising no completion no cost conveyancing in Hope?
Generally there is a concession along the lines that if "No Completion No Fee" is offered then the conveyancing charges will generally be more expensive to cover the cases that abort. Dont forget that such schemes tend not to protect you from expenditure such as Hope conveyancing search charges.
My partner and I changing mortgage lender for our penthouse in Hope with Virgin Money. We have a son 19 who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 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 property is forfeited by the lender. I have two questions (1) Is this form unique to the Virgin Money conveyancing panel as he did not need 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 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 intend to purchase a newbuild flat in Hope with a loan from Nationwide Building Society.We have a Hope conveyancing practitioner but Nationwide Building Society informed us she’s not on their approved list of member firms. We have to appoint a Nationwide Building Society panel solicitor or keep our local solicitor and pay for a Nationwide Building Society panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that Nationwide Building Society use our lawyer?
Unfortunately,no. The loan offered to you is subject to its various provisions, a common one being that solicitors needs to be on the Nationwide Building Society approved list. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Nationwide Building Society
I am looking for a leasehold apartment up to £195,000 and identified one round the corner in Hope I like with open areas and station in the vicinity, the downside is that it only has 52 remaining years left on the lease. There is not much else in Hope 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 remaining unexpired lease term may be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
How do I use the search app to get a quote from a conveyancing practitioner in Hope on the authorised to act for my lender?
Step one is to select a lender such as Halifax, Bank of Scotland or Platform Home Loans Ltd then choose your location for instance Hope. Conveyancing organisations in Hope and nationally should be shown.