My husband and I intend to remortgage our apartment in Mevagissey with Virgin Money. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose any adults 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 property is repossessed. I have two questions (1) Is this document specific to the Virgin Money conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Virgin Money 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 Virgin Money. This is solely used to protect Virgin Money 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 Virgin Money 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.
I require expedited conveyancing in Mevagissey as I have a deadline to sign on the dotted line inside one month. Thankfully I do not need a mortgage. Can I decline from having conveyancing searches to save money and time?
As you are are a mortgage free buyer you are at liberty not to do searches although no law firm would suggest that you don't. Drawing on years of experience of conveyancing in Mevagissey the following are instances of issues that can be revealed and adversely affect future mortgageability: Refused Planning Applications, Outstanding Fees, Overdue Grants, Unadopted Roads,...
I used Wolstenholmes a few years ago for my conveyancing in Mevagissey. I now require my file but cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Mevagissey of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Over the last few months I have been searching for a ground for flat up to £305k and found one close by in Mevagissey I like with amenity areas and station in the vicinity, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Mevagissey in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
My father has suggested that I instruct his lawyers for conveyancing in Mevagissey. Should I find my own solicitor?
There are no two ways about it the best way to find a conveyancing practitioner is to seek referrals from friends or relatives who have experience in using the firm you're are thinking of instructing.