My wife and I are refinancing our penthouse in Ealing with RBS. We have a son 18 who lives with us. Our solicitor requested us to identify 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 apartment is forfeited by the lender. I have two concerns (1) Is this form unique to the RBS conveyancing panel as he never had to sign this form when we bought 5 years ago (2) Does our son by signing this compromise his rights to inherit the property?
First, rest assured that your RBS 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 RBS. This is solely used to protect RBS 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 RBS 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 had intended to instruct a conveyancing solicitor in Ealing for our home move. Our financial adviser has since notified us that our bank Leeds Building Society won't deal with them. Why is this not regarded as unfair competition?
A mortgage company will require an approved conveyancer act for it. You would be expected to bear the charges for this. Try using our search facility to choose a solicitor to conduct conveyancing in Ealing on the Leeds Building Society approved list of solicitors.
About to purchase a new build apartment in Ealing. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Ealing
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Is there anything unique about your site and alternative online quote calculators for conveyancing in Ealing?
At this site receive a fixed fee costs illustration via a Solicitor or Licensed Conveyancer that appreciates the nuances for your conveyancing in Ealing. As opposed to estate agents and many comparison sites we are not in the business of charging firms a commission if you instruct them for your conveyancing in Ealing
Our offer on property in Ealing has been agreed to, but there is a chain. The current proprietors have put an offer on a flat, although it’s not yet agreed to, and are looking at other apartments in the pipeline. I have selected a local conveyancing lawyer in Ealing. What should be my next step? At what stage do I apply for the mortgage with RBS?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx £1k, then survey, Ealing conveyancing search charges, etc). First, you should check that your solicitor is on the RBS conveyancing panel. As to the subsequent phase this very much depends on the uniqueness of your transaction, desire for this property and on the state of the market. In a hot market the majority of home buyers will apply for a home loan with RBS and pay for the survey and only if it comes back ok would they pay their solicitor to move forward with the conveyancing in Ealing.