My fiance and I are refinancing our maisonette in Bollington with HSBC. 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 apartment is repossessed. I have a couple of questions (1) Is this form unique to the HSBC conveyancing panel as he never had 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?
First, rest assured that your HSBC 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 HSBC. This is solely used to protect HSBC 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 HSBC 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.
My lawyer in Bollington is not listed on the Skipton Building Society Conveyancing Panel. Is it possible for me to retain my prefered solicitor notwithstanding that they are not on the Skipton Building Society list of approved lawyers?
The limited options open to you here include:
- Carry on with your preferred Bollington lawyers but Skipton Building Society will need to use a solicitor on their list of acceptable firms. This will result in additional overall legal fees and result in frustration.
- Choose a new solicitor to act in the conveyancing, remembering to check they are Persuade your lawyer to do everything within their powers to join the Skipton Building Society conveyancing panel
Will my conveyancer be making enquiries regarding flooding as part of the conveyancing in Bollington.
Flooding is a growing risk for solicitors dealing with homes in Bollington. Some people will purchase a property in Bollington, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, however there are a number of checks that can be undertaken by the buyer or on a buyer’s behalf which can figure out the risks in Bollington. The standard property information forms supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard question of the seller to find out if the property has historically flooded. In the event that the premises has been flooded in past which is not disclosed by the seller, then a purchaser may commence a compensation claim stemming from an incorrect response. A buyer’s conveyancers should also commission an enviro report. This will higlight if there is a recorded flood risk. If so, more detailed inquiries will need to be initiated.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Bollington is where the house is located. Can you offer any opinion?
Flying freeholds in Bollington are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bollington you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bollington may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am thinking of appointing a conveyancing solicitor in Bollington for my house move. Is there any facility to review a firm’s record with the legal regulator?
Members of the public can see presented Solicitor Regulator Association (SRA) decisions stemming from investigations commenced on or after Jan 2008. Visit Check a solicitor's record. For records about the period before 1 January 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The regulator may recorded call for training reasons.