My fiance and I intend to remortgage our maisonette in Huyton with Bank of Ireland. We have a son approaching twenty 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, giving up any rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this form unique to the Bank of Ireland conveyancing panel as he did not need to sign this form when we bought 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 Bank of Ireland 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 Bank of Ireland. This is solely used to protect Bank of Ireland 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 Bank of Ireland 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.
My friend recommended that where I am buying in Huyton I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes included in the estimate for your Huyton conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Huyton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Huyton Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Huyton Education with maps and statistics, Local Amenities and other useful data regarding Huyton.
I decided to have a survey done on a house in Huyton in advance of appointing lawyers. I have been told that there is a flying freehold element to the house. My surveyor advised that some mortgage companies may not issue a mortgage on such a premises.
It depends who your proposed lender is. HSBC has different requirements from Halifax. If you e-mail us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Huyton. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to find a conveyancing solicitor for remortgage conveyancing in Huyton. I have stumble across a site which looks to be the ideal solution If it is possible to get all the legals completed via web that would be preferable. Do I need to be concerned? What should out be looking out for?
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?
Why do Huyton conveyancing costs differ for leasehold and freehold properties?
Leasehold conveyancing in Huyton can involve additional due diligence such as checking the lease, liaising with the landlord, obtaining up to date rent receipts, landlord’s consents, management company’s accounts etc.