My fiance and I intend to remortgage our penthouse in Redditch with HSBC. We have a son 18 who lives at home. Our solicitor has asked us to disclose 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 a couple of questions (1) Is this form unique to the HSBC conveyancing panel as he did not need to sign this form when we remortgaged 5 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 HSBC. This is solely used to protect HSBC 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 HSBC 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.
Our lender has suggested solicitors on their panel based in Redditch but I would rather use a conveyancing lawyer in Redditch round the corner to me. Are you able to help?
The minority of Redditch conveyancing practitioners are approved and listed on all banks conveyancing panel. Do make the most of the above search tool to identify a Redditch conveyancing conveyancer on the on the mortgage company panel.
I currently have a mortgage with Barclays for my property in Redditch. Conveyancing was finalised months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Barclays?
Your original mortgage agreement with Barclays will provide that you need their approval before letting out your property as this is likely to be a breach of Barclays’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Barclays directly. You need not do this via a Barclays conveyancing panel solicitor.
I am due to exchange contracts on my house. I had a double glazing fitted in November 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, RBS are being pedantic. The Redditch solicitor who is on the RBS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but RBS are requiring a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
About to purchase flat in Redditch. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Skipton conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Redditch conveyancer is on the Skipton conveyancing panel.
I am purchasing a property and the solicitor has raised the issue of Chancel Repair to which the property could be liable given it’s proximity to the area of such a church. He has recommended insurance. Is this really required for conveyancing in Redditch
Unless a previous purchase of the property took place after 12 October 2013 you may assume that solicitors carrying out conveyancing in Redditch to remain recommending a chancel search and or insurance against a claim.
Due to the advice of my in-laws I had a survey completed on a house in Redditch in advance of appointing solicitors. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some banks may refuse to grant a mortgage on a flying freehold premises.
It varies from the lender to lender. Lloyds has different instructions from Halifax. If you call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Redditch. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Redditch to see if the conveyancing will be more expensive.