My fiance and I are refinancing our flat in Kingsbury with Clydesdale. 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. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is repossessed. I have two questions (1) Is this document specific to the Clydesdale conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
First, rest assured that your Clydesdale 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 Clydesdale. This is solely used to protect Clydesdale 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 Clydesdale 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.
A friend advised me that in buying a property in Kingsbury there could be various restrictions prohibiting external changes to the property. Is this right?
We are aware of a number of properties in Kingsbury which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Kingsbury should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Are all Kingsbury Conveyancing Quality Solicitors on the Coventry BS conveyancing list of approved firms?
Some major banks and building societies now use CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
I have decided to exercise my right to buy my property in Kingsbury off the council. I have a mortgage agreed with Barclays. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Barclays, you will need to appoint a solicitor on the Barclays conveyancing panel.
How does conveyancing in Kingsbury differ for new build properties?
Most buyers of new build premises in Kingsbury approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is constructed. This is because builders in Kingsbury usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Kingsbury or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a property in Kingsbury prior to instructing solicitors. I have been told that there is a flying freehold element to the house. Our surveyor advised that some mortgage companies will not issue a loan on a flying freehold house.
It varies from the lender to lender. Lloyds has different requirements from Birmingham Midshires. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Kingsbury. Conveyancing may be slightly more expensive based on your lender's requirements.
How easy is it to change a solicitor as I need to find a Kingsbury based firm who is on the lender conveyancing panel. How simple is it to change conveyancer?
If you haven't yet instructed a solicitor to commence the conveyancing and have just received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Kingsbury that you're considering.