My partner and I are refinancing our penthouse in Milnthorpe with Yorkshire BS. We have a son approaching twenty who lives at home. Our solicitor requested us to identify 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, giving up any rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this document specific to the Yorkshire BS conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) Does our son by signing this giving up his rights 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 Yorkshire BS. This is solely used to protect Yorkshire BS 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 Yorkshire BS 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 appreciate that there are debates on Chancel Insurance on online forums. Am I compelled to have this when acquiring a house in Milnthorpe? or Apparently there is a law dating back centuries that could mean that homeowners living in a parish church boundary will be compelled to pay for maintenance to the chancel within the church. Is this applicable for conveyancing in Milnthorpe?
Unless a prior purchase of the house took place after 12 October 2013 you could assume that lawyers handling conveyancing in Milnthorpe to remain encouraging a chancel search and or insurance against a claim.
I am buying a new build house in Milnthorpe with the aid of help to buy. The developers refused to move on the price so I negotiated £7000 of extras instead. The sale representative told me not inform my conveyancer about the side-deal as it may affect my mortgage with the lender. 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.
I have been advised by a couple of local selling agents in Milnthorpe to find a property lawyer on your site. Is there a financial incentive for Estate Agents to market your services ahead of another?
We don’t offer any referral fee for sending work to this site. We thought it would be too underhand a fee as home movers will think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
My step-father has recommend that I instruct his lawyers for conveyancing in Milnthorpe. Do I take his guidance?
Much as we are happy to recommend a Milnthorpe conveyancing lawyer it’s preferable to select a conveyancing lawyer is to have feedback from friends or relatives who have actually previously instructed the solicitor you're are thinking of instructing.