My husband and I intend to remortgage our apartment in Maidenhead with Barclays. 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 two questions (1) Is this form unique to the Barclays conveyancing panel as he never had to sign this form when we bought 4 years ago (2) Does our son by signing this giving up his entitlement 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.
Do I have to attend the offices of the solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Maidenhead so that I can attend their offices if necessary.
Whereas this was necessary 12 years ago, the vast majority mortgage companies no longer require their conveyancing panel lawyer to witness the borrowers signature. You will still be obliged to provide identification documents and there are still distinct benefits to instructing a local ayer, in your case a conveyancing solicitor in Maidenhead.
This question may be naive but I am unseasoned as a first time purchaser of a ground floor flat in Maidenhead. Do I receive the keys to the property on the completion date from my lawyer? If so, I will find a High Street conveyancing solicitor in Maidenhead?
On the day of completion you do not need to go to the conveyancers office in Maidenhead. Your solicitors will electronically transfer the completion advance to the vendor’s lawyers, and shortly after the monies have arrived, you should be invited to receive the keys from the Estate Agents and move into your new home. This tends to happen between 1 and 3pm.
Can I be sure that the Maidenhead conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in Maidenhead obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer handling your transaction.
We are getting a further advance on our mortgage from Coventry BS as we intend to conduct improvements to our home in Maidenhead. Are we obliged to appoint a high street Maidenhead solicitor on the Coventry BS conveyancing panel to deal with the legals?
Coventry BS would not normally instruct a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Coventry BS list.
Just acquired a detached house in Maidenhead , how long should it take for the Land Registry to deal with the formalities evidencing my proprietorship? My Maidenhead conveyancing solicitor works at snail pace, so I want to be sure the land registry aspects are concluded.
There is nothing unique when it comes to conveyancing in Maidenhead registration formalities. As opposed to being determined by geographic area, timeframes can adjust according to who lodges the application, whether it is in order and if the Land registry communicate with any other parties. At present in the region of three quarters of submission are fully dealt with within 12 days but some can be subject to longer hold-ups. Registration occurs after the new owner is living at the property therefore 'speed' is not usually an essential issue yet where it is urgent that the the registration takes place urgently then you or your lawyers can contact the land registry and explain the circumstances.
I'm buying my first flat in Maidenhead with the aid of help to buy. The developers would not move on the amount so I negotiated £7000 of extras instead. The sale representative suggested that I not reveal to my lawyer about the side-deal as it will put at risk my loan with HSBC 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.