Me and my fiance are purchasing a 2 bedroom apartment in Cherry Burton with a mortgage. We have a Cherry Burton conveyancer, but the lender advise he's not on their "panel". We have to appoint one of the bank panel firms or retain our Cherry Burton property lawyer and pay for one of their panel firms to represent them. This feels very unfair; can we not insist that the mortgage company use our Cherry Burton solicitor ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Cherry Burton conveyancing lawyer to apply to be on the conveyancing panel.
My fiance and I are refinancing our apartment in Cherry Burton with Nationwide. We have a son 19 who lives at home. Our solicitor has asked us to disclose any adults 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 flat is repossessed. I have a couple of concerns (1) Is this form unique to the Nationwide conveyancing panel as he never had to sign this form when we bought 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong 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 Nationwide. This is solely used to protect Nationwide 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 Nationwide 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 have been recommended a conveyancing solicitor in Cherry Burton. I I would like to check if they are on the Clydesdale conveyancing panel. Can you advise?
You should contact the lawyer and enquire if they can act for the bank. Otherwise please call Clydesdale who may be able to confirm.
Should our lawyer be making enquiries about flooding as part of the conveyancing in Cherry Burton.
The risk of flooding is if increasing concern for lawyers dealing with homes in Cherry Burton. There are those who purchase a property in Cherry Burton, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, but there are a various searches that may be undertaken by the buyer or on a buyer’s behalf which will figure out the risks in Cherry Burton. The conventional set of information supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the owner to discover whether the property has suffered from flooding. If the property has been flooded in past and is not disclosed by the owner, then a buyer could issue a compensation claim as a result of such an inaccurate reply. The buyer’s conveyancers will also carry out an enviro search. This should disclose whether there is a recorded flood risk. If so, further inquiries should be made.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what should have been a straight forward, no chain conveyancing. Cherry Burton is where the house is located. Can you shed any light on this issue?
Flying freeholds in Cherry Burton are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cherry Burton you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cherry Burton 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.