My partner and I are refinancing our maisonette in Chorleywood with Clydesdale. We have a son 19 who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. 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 concerns (1) Is this document specific to the Clydesdale conveyancing panel as he never had to sign this form when we remortgaged 5 years ago (2) Does our son by signing this compromise his rights 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 Clydesdale. This is solely used to protect Clydesdale 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 Clydesdale 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.
When will exchange of contracts occur in domestic conveyancing in Chorleywood and do I need to attend the conveyancers branch?
If you are local to our conveyancing solicitors in Chorleywood you are welcome to attend to sign contracts. That being said, the firms we recommend offer a countrywide conveyancing service and give just as comprehensive and professional a job for you when dealing with you electronically. The signing of the property agreement is not the important part. A signed contract is necessary for the conveyancer to address the formalities at the suitable time, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Chorleywood)to be in the office available at the end of the phone to exchange contracts.
Our lender has recommended a law firm on their panel based in Chorleywood but I would rather instruct a conveyancing lawyer in Chorleywood round the corner to me. Are you able to assist?
The minority of Chorleywood conveyancing practitioners are approved and listed on all lender’s conveyancing panel. Do make use of the above find an approved solicitor tool to locate a Chorleywood conveyancing conveyancer on the on the mortgage company panel.
I'm purchasing my first flat in Chorleywood benefiting from help to buy. The developers would not budge the price so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not inform my lawyer about this deal as it would put at risk my loan with the lender. Is this normal?.
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.
I need to appoint a conveyancing solicitor for leasehold conveyancing in Chorleywood. I've chance upon a web site which looks to be the ideal solution If there is a chance to get all formalities completed via phone that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?