My wife and I are refinancing our penthouse in Presteigne with Yorkshire BS. We have a son 18 who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. 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 questions (1) Is this form unique to the Yorkshire BS conveyancing panel as he did not need to sign this form when we remortgaged 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 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.
We are planning to acquire a property and require a conveyancing solicitor in Presteigne who is on the Clydesdale conveyancing panel. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Clydesdale . We don't recommend any particular firms conducting conveyancing in Presteigne.
I am considering applying for a Virgin Money mortgage for purchase of a new build (under development) in Presteigne with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Virgin Money ?
There is nothing to stop you using your solicitor, but Virgin Money will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
A relative advised me that if I am purchasing in Presteigne I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally included in the estimate for your Presteigne conveyancing searches. It is a large document of about 40 pages, listing and detailing important information about Presteigne around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data concerning Presteigne.
In my capacity as executor for the estate of my grandmother I am selling a property in Swansea but reside in Presteigne. My lawyer (approximately 235 miles awayrequires that I sign a statutory declaration before the transaction finalising. Can you recommend a conveyancing solicitor in Presteigne to attest and place their company stamp on the document?
Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are located in Presteigne