My fiance and I intend to remortgage our apartment in Alfreton with Santander. We have a son 19 who lives at home. Our solicitor requested us to identify 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 apartment is repossessed. I have a couple of questions (1) Is this form unique to the Santander conveyancing panel as he did not need to sign this form when we bought 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 Santander 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 Santander. This is solely used to protect Santander 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 Santander 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.
In what way does my ID and proof of funds have anything to do with my conveyancing in Alfreton? What am I being asked for?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to check the identification documents of the potential client they are dealing with prior to agreeing to accepting their conveyancing retainer. The Client Care letter that you need to sign should confirm this. Your lender will also require certain documents to be viewed. Where you refuse to supply identification documents, your conveyancer will not be able to take you on as a client.
I am considering refinancing my flat in Alfreton, does my lawyer need to be on the Santander Solicitor panel?
There is nothing to stop you using your solicitor, but Santander will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
How does conveyancing in Alfreton differ for newly converted properties?
Most buyers of new build premises in Alfreton contact us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is built. This is because builders in Alfreton tend to purchase the real estate, 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 conveyancing solicitors 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 used to new build conveyancing in Alfreton or who has acted in the same development.
I am 3 weeks into a leasehold purchase having been directed to a firm by the high street agent to do our conveyancing in Alfreton. We are not happy. Can you you assist me in finding new conveyancers?
A lawyer would have to be very bad in order to consider replacing them. Has your mortgage offer been issued? If so you must advise them of the new contact details and ensure the offer are re-sent. The conveyancer should be on the banks approved list to avoid added costs and frustration. So that should be your starting point. The find a solicitor tool should help you find a lender approved solicitor for your home move in Alfreton