My partner and I intend to remortgage our penthouse in Bradford On Avon with Yorkshire BS. We have a son 18 who lives at home. Our solicitor has asked us to disclose 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, giving up any rights in the event that the apartment is forfeited by the lender. 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 purchased 5 years ago (2) Does our son by signing this compromise his rights 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.
What does my ID and proof of funds have anything to do with my conveyancing in Bradford On Avon? Is this really warranted?
Bradford On Avon conveyancing solicitors and indeed property lawyers accross the UK have a duty under Anti-terror and anti-money-laundering rules to check the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and proof of address (usually a Bank Statement less than 3 months old).
Proof of source of funds is also necessary in accordance with the money laundering statutes as conveyancers are duty bound to investigate that the funds you are using to purchase a property (be it the exchange deposit or the full purchase monies if you are buying without a mortgage) has come from a reputable source (such as employment savings) as opposed to the proceeds of criminal behaviour.
We're in Bradford On Avon, First time buyers purchasing with a mortgage (lender is Clydesdale , and our solicitor is on the Clydesdale conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Clydesdale conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Should my solicitor be raising enquiries about flooding as part of the conveyancing in Bradford On Avon.
The risk of flooding is if increasing concern for lawyers conducting conveyancing in Bradford On Avon. There are those who purchase a property in Bradford On Avon, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, but there are a number of checks that can be initiated by the purchaser or by their solicitors which will give them a better understanding of the risks in Bradford On Avon. The standard property information forms supplied to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the vendor to determine whether the property has historically flooded. If flooding has previously occurred which is not disclosed by the owner, then a purchaser may commence a legal claim for losses resulting from an inaccurate reply. The purchaser’s solicitors may also conduct an enviro report. This should reveal whether there is any known flood risk. If so, more detailed investigations should be conducted.
As co-executor for the estate of my grandfather I am disposing of a property in Monmouth but reside in Bradford On Avon. My conveyancer (approximately 300 miles awayrequires that I sign a statutory declaration before completion. Could you suggest a conveyancing lawyer in Bradford On Avon who can attest this legal document for me?
strictly speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are Bradford On Avon based