My fiance and I intend to remortgage our apartment in Rye with Nationwide. We have a son 19 who lives at home. Our solicitor requested us to identify any adults 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 document specific to the Nationwide conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Nationwide conveyancing panel solicitor is doing the right thing 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 Nationwide. This is solely used to protect Nationwide 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 Nationwide 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.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Rye so that I can attend their offices when needed.
Nowadays approved lawyers for banks conduct their work through Royal Mail, internet or over phone calls. This means that they can undertake the conveyancing transaction regardless of where you live in England or Wales. However you should check if you can still book an appointment to visit conveyancing lawyer if you prefer.
I am assisting my aunt sell her property in Rye. Will the conveyancing solicitor commission the energy performance certificate or do I organise this?
Following the abolition of HIPs, EPC’s was maintained a compulsory component of selling a property. An energy assessment must be commissioned in advance of the property being marketed. This is not as aspect of the sale process that conveyancers normally organise. Where you are using a Rye conveyancing lawyer they might help arrange energy performance certificates due to their relationships with long established local energy assessors
Can you help - my lawyer advises that restrictive coveneant insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Rye?
The right level of restrictive coveneant indemnity insurance depends on who your lender is. It would differ for example between National Westminster Bank and Leeds Building Society. Conveyancing solicitors as opposed to borrowers take out such policies.
We have agreed to purchase a house in Rye. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender RBS be concerned?
Given that your lender is RBS your lawyer must check the formal instructions outlined in Section 2 of UK Finance Lenders’ Handbook for RBS. The CML Handbook sets out minimum specifications for solar panel roof-space leases, and solicitors are required to report to RBS where a lease fails to comply with these provisions. The requirements relate to the installation of panels on properties in England and Wales and is not limited to Rye.
I am looking for a flat up to £305k and found one close by in Rye I like with amenity areas and station in the vicinity, the downside is that it only has 51 years unexpired on the lease. There is not much else in Rye for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan the shortness of the lease will be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
My husband and I are a couple of weeks into a leasehold purchase having been directed to solicitors by the selling agent to do our conveyancing in Rye. I am am very dissatisfied with the quality of service. Could you help me find new conveyancers?
A conveyancer would have to be very bad to suggest replacing them. Has the mortgage been issued? If so you need to inform them of the replacement lawyer and have the loan are issued to the new lawyers. Your new solicitor ideally needs to be on the mortgage company approved list to avoid added fees and complications. That should be your first question of the new lawyers. The find a solicitor tool should help you find a lender approved solicitor for your home move in Rye