My wife and I swapping mortgage lender for our maisonette in Lichfield with Aldermore. We have a son 18 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 apartment is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Aldermore conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this extinguish his entitlement to inherit the property?
First, rest assured that your Aldermore 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 Aldermore. This is solely used to protect Aldermore 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 Aldermore 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 expecting a mortgage offer soon. The bank mentioned the loan came with free conveyancing. Does this mean I have to use their panel solicitor as I would much rather use a Lichfield based conveyancing firm?
Do check but the the likelihood is that give you one of their panel lawyers if you accept the "fee-free" deal. Contact the lender and determine if they allow a cash alternative. In the past a few lenders offered a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor in Lichfield.
How does conveyancing in Lichfield differ for new build properties?
Most buyers of new build property in Lichfield come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is built. This is because developers in Lichfield tend to purchase the real estate, 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 conveyancing solicitors 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 Lichfield or who has acted in the same development.
Is it possible to transfer to a new solicitor as I need to appoint one who is on the Skipton Building Society conveyancing list. I hired a family conveyancing solicitor in Lichfield round the corner but he is not accepted by Skipton Building Society
We will our best to assist in finding you a conveyancing solicitor in Lichfield on the Skipton Building Society panel. Please note that the property lawyers that we work with do not pay us fee if you instruct them and are registered with the SRA who regulate all conveyancing solicitors in Lichfield. Using search facility on this page, you can compare fees for conveyancing solicitors in Lichfield and beyond.
What type of property do your Lichfield conveyancing quotes relate to?
The quotes supplied are only relevant to standard residential premises in England & Wales. If you have any different requirements for example industrial or agricultural property or commercial conveyancing in Lichfield please contact us to consider this further .