My husband and I are refinancing our maisonette in Llandudno with Lloyds. We have a son 19 who lives at home. Our solicitor has asked us to disclose 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, waiving any legal rights in the event that the apartment is repossessed. I have two questions (1) Is this document specific to the Lloyds 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 Lloyds 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 Lloyds. This is solely used to protect Lloyds 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 Lloyds 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 wife and I have recently appointed a conveyancing solicitor in Llandudno. I I would like to check whether they are on the The Mortgage Works approved list of lawyers. Can you assist?
The first thing to do is phone your conveyancer and ask them whether they are on the lender panel. Otherwise please get in touch with The Mortgage Works who may be able to confirm.
Have completed on a a terraced house in Llandudno , how long will it take for the Land Registry to register my ownership? My Llandudno conveyancing solicitor works at snail pace, so I want to be certain that my name is recorded.
As far as conveyancing in Llandudno is concerned, registration is no faster or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can adjust depending on who lodges the application, whether it is in order and whether the Land registry must send notices to any interested parties. At present in the region of three quarters of such applications are fully dealt with within 12 days but some can be subject to protracted hold-ups. Registration takes place after the purchaser has moved in to the premises therefore post completion formalities is not usually an essential issue but if there is a degree of urgency associated with the registration then you or your conveyancer could speak with the land registry and explain the circumstances.
I'm purchasing a new build house in Llandudno with a mortgage from Aldermore. The builders would not move on the amount so I negotiated 6k of extras instead. The sale representative told me not to tell my lawyer about this deal as it would impact my mortgage with Aldermore. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
How do I use your search facility to choose a conveyancing practitioner in Llandudno on the authorised to act for my lender?
1st select a lender such as Accord Mortgages Ltd, Coventry Building Society or Alliance & Leicester then type in your location a common one being Llandudno. Conveyancing firms in Llandudno and nationally should be listed.