My fiance and I are refinancing our flat in Claydon 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. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the HSBC conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) Does our son by signing this compromise 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.
Do the Building Society Association intend to launch a online directory to list law firms on the Melton Mowbray Building Society conveyancing panel for example in Claydon?
We would not expect to be advised of any plans on the part of the BSA to develop such a tool.
My partner and I are planning on selling our home in Claydon and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. Any high street Claydon conveyancer would know that there is no such problem. It does beg the question why the purchasers are using an internet conveyancing practice as opposed to a conveyancing solicitor in Claydon. Having lived in Claydon for many years we know of no issue. Is it a good idea to contact our local Authority to seek confirmation need.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I am purchasing a new build house in Claydon with a loan from Bank of Scotland. The builders refused to reduce the price so I negotiated £7000 of extras instead. The property agent suggested that I not reveal to my conveyancer about this deal as it may impact my mortgage with the bank. Do I keep my lawyer in the dark?.
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 need to retain a conveyancing solicitor for freehold conveyancing in Claydon. I have land on a web site which appears to be the perfect solution If there is a chance to get all formalities done via web that would be preferable. Do I need to be wary? What are the potential pitfalls?
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?