My fiance and I are refinancing our flat in De Beauvoir Town with HSBC. We have a son 18 who lives with us. Our solicitor requested us to identify 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 apartment is forfeited by the lender. I have a couple of questions (1) Is this document specific to the HSBC conveyancing panel as he never had to sign this form when we bought 4 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 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.
Will my conveyancer be raising enquiries regarding flooding during the conveyancing in De Beauvoir Town.
The risk of flooding is if increasing concern for solicitors dealing with homes in De Beauvoir Town. Plenty of people will acquire a house in De Beauvoir Town, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, but there are a various searches that may be undertaken by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in De Beauvoir Town. The standard information given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual question of the vendor to determine if the property has suffered from flooding. If flooding has previously occurred which is not notified by the seller, then a buyer may commence a legal claim for losses as a result of such an incorrect answer. The purchaser’s lawyers will also order an environmental report. This will higlight whether there is any known flood risk. If so, additional investigations will need to be initiated.
My wife and I own a renovated Georgian property in De Beauvoir Town. Conveyancing lawyer acted for me and Aldermore. I did a free Land Registry search last week and there are two entries: the first freehold, the second leasehold with the matching address. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in De Beauvoir Town and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing lawyer who conducted the purchase.
My step-father has encouraged me to use his conveyancers in De Beauvoir Town. Should I use them?
There are no two ways about it the ideal way to choose a conveyancing practitioner is to seek recommendations from friends or relatives who have used the firm that you are are thinking of instructing.
I have recently had an offer accepted on a leasehold flat in De Beauvoir Town and the estate agent that we are dealing with recommended his lawyer. She quoted a thousand pounds including VAT and disbursements. Does this sound like a good deal?
You should not rely on a single quote. You should obtain like-for-like quotes for your conveyancing in De Beauvoir Town. Then choose one that you trust and crucially, is on the approved list of the bank that you are sourcing your mortgage from.