My wife and I swapping mortgage lender for our penthouse in Arthog with Yorkshire BS. We have a son 19 who lives with us. Our solicitor requested us to identify 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, waiving any legal rights in the event that the property is repossessed. I have two questions (1) Is this document specific to the Yorkshire BS conveyancing panel as he never had to sign this form when we bought 4 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 Yorkshire BS 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 Yorkshire BS. This is solely used to protect Yorkshire BS 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 Yorkshire BS 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 my first flat in Arthog with a mortgage from Coventry Building Society. The builders refused to budge the amount so I negotiated £7000 of extras instead. The house builders rep suggested that I not disclose to my conveyancer about this side-deal as it may affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
What does commercial conveyancing in Arthog cover?
Commercial conveyancing in Arthog incorporates a broad array of advice, given by qualified solicitors, relating to business property. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
We're first time buyers - had an offer accepted, but the property agent informed us that the seller will only issue a contract if we instruct the agent's recommended solicitors as they want an ‘expedited deal’. My instinct tells me that we should use a high street solicitor used to conveyancing in Arthog
It is improbable the vendors are behind this. Should the vendor desire ‘a quick sale', alienating a motivated purchaser is likely to cause more damage than good. Contact the owners directly and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are unencumbered (d) you wish to move quickly (e)however you intend to appoint your preferred Arthog conveyancing solicitors - as opposed tothose that will earn their estate agent a introducer fee or meet his conveyancing targets set by corporate headquarters.
Is there a difference between surveying and conveyancing in Arthog?
Conveyancing - in Arthog or elsewhere - is the process of legally transferring legal title of property from one person to another. It therefore includes the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are purchasing and will help you discover the condition of the building and, if there are problems, give you a powerful reason for negotiating the purchase price down or asking the vendor to remedy the defects before you complete your move.