My partner and I intend to remortgage our maisonette in Leagrave and Chalton with Santander. 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. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is repossessed. I have two questions (1) Is this form unique to the Santander conveyancing panel as he never had to sign this form when we bought 4 years ago (2) Does our son by signing this extinguish his entitlement to inherit the property?
First, rest assured that your Santander 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 Santander. This is solely used to protect Santander 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 Santander 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.
Do I have to attend the offices of the solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Leagrave and Chalton so that I can attend their offices when needed.
As opposed to 12 years ago, almost all lenders no longer need their conveyancing panel solicitor to witness the mortgagors signature. You will still be obliged to provide identification documents and there are still manifest benefits to instructing a local solicitor, in your situation a conveyancing solicitor in Leagrave and Chalton.
What will a local search reveal about the property my wife and I purchasing in Leagrave and Chalton?
Leagrave and Chalton conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search organisations for example Xpress Legal The local search is essential in every Leagrave and Chalton conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your new home. The search should supply data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
Due to the encouragement of my in-laws I had a survey completed on a house in Leagrave and Chalton prior to instructing conveyancers. I have been told that there is a flying freehold aspect to the house. Our surveyor has said that some mortgage companies will not issue a mortgage on a flying freehold property.
It varies from the lender to lender. HSBC has different requirements for example to Halifax. If you contact us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Leagrave and Chalton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Leagrave and Chalton to see if the conveyancing costs will increase in light of this.
My solicitors in Leagrave and Chalton have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with the mortgage company. Is it case that being on the bank conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the bank Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.