My partner and I are refinancing our apartment in Braintree with HSBC. 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 reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this form unique to the HSBC 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 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.
We are looking to buy a property and require a conveyancing solicitor in Braintree who is on the Barclays conveyancing panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Barclays . We don't recommend any particular firms conducting conveyancing in Braintree.
I have just over seventy years left on my lease and need a lease extension for my apartment in Braintree. Conveyancing solicitors on the Platform panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 4/5/2022 the requirements read as follows :
I am buying a new build house in Braintree benefiting from help to buy. The sellers refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep suggested that I not reveal to my solicitor about this side-deal as it will adversely affect my mortgage with the lender. Should I keep quiet?.
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.
Partway through the sale of a leasehold flat in Braintree. Conveyancing lawyers are doing their job but we are being charged an extortionate amount from the managing agents. So far we have paid £237 for a leasehold management information and then a further £117.20 for responses to questions raised by the buyers conveyancer.
You will not have any say over the level of the charges for this information however the typical fee for the information for Braintree leasehold premises is £355. For Braintree conveyancing deals it is usual for the seller to pay for these charges. The freeholder or their agents are under no statutory obligation to answer these questions most will be willing to do so - albeit often at exorbitant prices out of proportion to the work involved. Unfortunately there is no law that requires set fees for administrative tasks. There is no prescriptive time limit by which they are required to provide answers.