My fiance and I are refinancing our flat in Ripon with HSBC. 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 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 forfeited by the lender. I have two concerns (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.
I am considering applying for a Skipton mortgage for purchase of a newly converted (under development) in Ripon with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Skipton ?
In theory, you could use a solicitor that is not on the Skipton conveyancing panel, but Skipton would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
How does conveyancing in Ripon differ for new build properties?
Most buyers of new build or newly converted property in Ripon come to us having been asked by the developer to sign contracts and commit to the purchase even before the property is constructed. This is because new home sellers in Ripon typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Ripon or who has acted in the same development.
I'm remortgaging my current home to a buy to let mortgage with Coventry Building Society and intend to use the remaining equity towards another house. The area we are interested in is Ripon. Will your lawyers be able to act for the two mortgage companies and link together the transactions?
Do use our comparison tool on this site to check that the lawyers are on the appropriate lender panels. Assuming that they are your conveyancer will be able to tie up the two deals but you should have a chat with you conveyancer and make clear your desired outcome and needs.
I see that you have a search directory identifying firms on the bank conveyancing panel. Do Ripon conveyancing firms pay you a referral fee if I retain them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the lender conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Ripon.