My wife and I changing mortgage lender for our maisonette in Cleator with Co-operative. We have a son 19 who lives at home. 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 apartment is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Co-operative conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this compromise his rights to inherit the property?
First, rest assured that your Co-operative 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 Co-operative. This is solely used to protect Co-operative 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 Co-operative 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'm the sole recipient of my late father’s will and I have everything in my name now, including the house in Cleator. The Cleator property was put into my name in August. I now wish to sell up. I do know about the CML six month 'rule', which means that my property ownership could be regarded the same way as though I had purchased the house in August. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. many mortgage companies would take a pragmatic view as this requirement is primarily there to capture subsales or the flipping of property.
My husband and I have arranged a further advance on our mortgage from Virgin Money as we want to conduct renovations to our home in Cleator. Do we need to select a bricks and mortar Cleator solicitor on the Virgin Money conveyancing panel to handle the legals?
Virgin Money don't usually require a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Virgin Money list.
After shopping around on the internet I have found a Cleator conveyancing practitioner having made sure that they are on the Aldermore conveyancing panel. Does my lawyer arrange the survey of the property?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Cleator surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
What will a local search tell me regarding the house my wife and I purchasing in Cleator?
Cleator conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search company such as Searches UK The local search plays a central part in most Cleator conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your new home. The search should reveal data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
I have been on the look out for a leasehold apartment up to £235,500 and identified one close by in Cleator I like with a park and station in the vicinity, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Cleator for this price, so just wondered if I would be making a mistake buying a short lease?
Should you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
Am I best advised to instruct a Cleator conveyancing practitioner in close proximity to the house I am buying? An old friend can handle the legal work however his firm is located 200miles drive away.
The primary upside of using a high street Cleator conveyancing practice is that you can drop in to sign documents, deliver your identification documents and apply pressure on them where appropriate. Having local Cleator know how is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and the majority were happy that must outweigh using an unfamiliar Cleator conveyancing lawyer just because they are based in the area.