My fiance and I swapping mortgage lender for our penthouse in Chard with HSBC. We have a son 18 who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat 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 bought 4 years ago (2) Does our son by signing this giving up his rights 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.
I require fast conveyancing in Chard as I have pressure to sign on the dotted line inside 2 weeks. A mortgage is not required. Is it possible to decline from having conveyancing searches to save fees and time?
If.Given you are not obtaining a mortgage you have the choice not to do searches although no conveyancer would suggest that you don't. With lots of history conveyancing in Chard the following are instances of issues that can arise and adversely impact the marketability of the property: Enforcement Notices, Overdue Fees, Outstanding Grants, Road Schemes,...
I'm purchasing my first flat in Chard benefiting from help to buy. The developers refused to reduce the price so I negotiated 6k of extras instead. The house builders rep advised me not reveal to my conveyancer about this extras as it may adversely affect my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I decided to have a survey completed on a house in Chard ahead of retaining lawyers. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some lenders may not grant a mortgage on such a home.
It varies from the lender to lender. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Chard. Conveyancing may be slightly more expensive based on your lender's requirements.
In my capacity as executor for the estate of my aunt I am selling a property in Neath but reside in Chard. My solicitor (who is 300 miles from mehas requested that I sign a stat dec prior to the transaction finalising. Could you suggest a conveyancing practitioner in Chard who can witness this legal document for me?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will suffice regardless of whether they are Chard based