My fiance and I changing mortgage lender for our flat in London Colney with RBS. We have a son 19 who lives with us. Our solicitor has asked us to disclose 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, waiving any legal rights in the event that the property is repossessed. I have a couple of concerns (1) Is this document specific to the RBS conveyancing panel as he did not need to sign this form when we bought 3 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 RBS. This is solely used to protect RBS 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 RBS 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.
Will conveyancers ask for money up-front for my conveyancing in London Colney?
Where you are retaining lawyers for conveyancing in London Colney your lawyer will request that you to provide them with funds to cover the the cost of the conveyancing searches. Normally this is called for to cover the fees of the Local Authority Search. When the deposit is payable against the purchase price then this will be needed immediately before contracts are exchanged. The final balance that is due will be payable a couple of days ahead of the day of completion.
We are planning on selling our property in London Colney and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. A high street London Colney lawyer would know that there is no such problem. For the life of me I don't know why the buyers are using a web based conveyancing practice as opposed to a conveyancing solicitor in London Colney. We have lived in London Colney for 4 years we know that this is a non issue. Is it a good idea to contact our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
It has been five months following my purchase conveyancing in London Colney concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build house in London Colney with the aid of help to buy. The sellers would not move on the amount so I negotiated 6k of additionals instead. The house builders rep suggested that I not to tell my lawyer about the side-deal as it may put at risk my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.