My wife and I are refinancing our maisonette in Rhiwbina with Nottingham. We have a son approaching twenty who lives with us. 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, waiving any legal rights in the event that the flat is repossessed. I have a couple of questions (1) Is this form unique to the Nottingham conveyancing panel as he never had to sign this form when we remortgaged 4 years ago (2) Does our son by signing this compromise 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 Nottingham. This is solely used to protect Nottingham 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 Nottingham 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 appoint a lawyer who conducts conveyancing in Rhiwbina so that I can pop in to their offices if necessary.
Whereas this was necessary ten years ago, almost all banks no longer need their conveyancing panel solicitor to witness the mortgagors signature. You will still be obliged to hand over identification documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Rhiwbina.
Forgive me if this question is silly but I am unexperienced as a 1st time buyer of a two bedroom flat in Rhiwbina. Do I pick up the keys to the property on completion from my solicitor? If so, I will find a local conveyancing solicitor in Rhiwbina?
On the day of completion you do not need to attend the conveyancers office in Rhiwbina. Your solicitors will electronically transfer the completion advance to the seller's solicitors, and shortly after the monies have arrived, you should be able to collect the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
Can I be sure that the Rhiwbina conveyancing solicitor on the Co-operative panel is any good?
When it comes to conveyancing in Rhiwbina obtaining recommendations is a sensible 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 recommend that you speak with the lawyer handling your transaction.
I have paid off my mortgage with Lloyds. I assume I don't need a Rhiwbina lawyer on the Lloyds panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Lloyds mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Lloyds mortgage from the register. Lloyds, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Lloyds has sent the Land Registry the discharge electronically, and
- Lloyds has instructed the Land Registry to do so
I'm buying my first flat in Rhiwbina with a loan from Leeds Building Society. The builders refused to budge the price so I negotiated 6k of extras instead. The sale representative suggested that I not reveal to my lawyer about the extras as it would affect my loan with the lender. Do I keep my lawyer in the dark?.
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 am hoping to buy a repression property in Rhiwbina and the vendor would like to complete within a week. Do lawyers meet that timeframe? Would it be better to use a high street Rhiwbina firm or an online firm that advertises to offer speedy conveyancing?
Visit your Rhiwbina shopping parade. Go in to two or three companies and request to talk to a conveyancing solicitor for a quote. Set out your situation and get a commitment on time frames. Select the firm that appears most efficient. Make sure to use a solicitor on the panel of conveyancing practitioners approved by your bank.