I am hoping to receive a mortgage offer from Santander. My intention is to use a Licensed Conveyancer in Leigh On Sea. Does the Santander Solicitor panel include conveyancers regulated by the CLC?
The Santander approved solicitor list is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My partner and I are refinancing our apartment in Leigh On Sea with Barclays. 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 property is repossessed. I have a couple of questions (1) Is this document specific to the Barclays conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong 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 Barclays. This is solely used to protect Barclays 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 Barclays 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.
What is your number one tip for finding a conveyancing solicitor in Leigh On Sea
It would be unwise to be tempted by the lowest Leigh On Sea conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
When it comes to lenders such as Principality, do Leigh On Sea property lawyers have to pay a yearly amount to be on the list of approved solicitors?
We are not aware of any mortgage company fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
We previously appointed conveyancers based in Leigh On Sea on the Barclays solicitor panel. They have just invoiced me a supplemental sum for handling the Barclays mortgage. Is this an additional conveyancing fee set by Barclays?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your property lawyer can levy a fee for this. The fee is not set by Barclays but by your Leigh On Sea lawyer. Numerous firms on the Barclays panel will quote ’dealing with mortgage’ fee and others do not.
How does conveyancing in Leigh On Sea differ for newly converted properties?
Most buyers of new build or newly converted property in Leigh On Sea contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is constructed. This is because developers in Leigh On Sea typically acquire 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 used to new build conveyancing in Leigh On Sea or who has acted in the same development.
I am looking for a leasehold apartment up to £235,500 and identified one close by in Leigh On Sea I like with open areas and transport links in the vicinity, however it only has 52 years on the lease. I can't really find anything else in Leigh On Sea in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.