My wife and I changing mortgage lender for our penthouse in Hampshire with Principality. We have a son 19 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this form unique to the Principality conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Principality 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 Principality. This is solely used to protect Principality 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 Principality 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.
We are close to exchanging contracts on the sale of our home in Hampshire and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. A high street Hampshire lawyer would know this is not the case. It does beg the question why the purchasers instructed a factory type conveyancing outfit rather than a conveyancing solicitor in Hampshire. We have lived in Hampshire for many years we know that this is a non issue. Should we get in touch with our local Authority to seek clarification that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer already. What do they say? 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 sickness)
What does commercial conveyancing in Hampshire cover?
Non domestic conveyancing in Hampshire incorporates a broad array of services, offered by regulated solicitors, relating to business premises. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I am 17 days into a residential purchase having been referred to conveyancers by the local agent to carry out the conveyancing in Hampshire. I am am extremely disappointed with the level of service. Can you you assist me in finding new solicitors?
They would have to be very bad in order to consider diss instructing them. Has the mortgage been generated? If so you need to inform them of the new contact details and get the offer are re-issued. Your conveyancer should be on the mortgage company panel to avoid escalating expenses and frustration. That should be your first question of the new lawyers. Our search tool should assist you in finding a lender approved solicitor for your home move in Hampshire
My husband and I are purchasing a 2 bedroom maisonettein Hampshire with a residential mortgage from a lender. We like our lawyer in Hampshire yet our lender says she’s not listed on their "panel". Apparently we need to choose one of the our lender panel solicitors or keep our Hampshire conveyancer and incur the extra legals for one of their panel ones to represent our mortgage company. We feel as though this is unjust; Can we not simply insist that our bank use our Hampshire lawyer?
Unfortunately,no. The mortgage company home loan offered to you is subject to conditions, one of which will be that solicitors will on the bank's conveyancing panel. Until recently, most mortgage companies had open panels, including almost all conveyancing solicitors in Hampshire : a mortgagee could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for your mortgage company.