My husband and I swapping mortgage lender for our penthouse in Saltdean with Bank of Ireland. 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 apartment is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Bank of Ireland conveyancing panel as he never had to sign this form when we bought 3 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 Bank of Ireland. This is solely used to protect Bank of Ireland 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 Bank of Ireland 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.
Are the Saltdean conveyancing solicitors identified as being on the Co-operative conveyancing panel, together with their details provided by Co-operative?
Saltdean conveyancing firms themselves provide us confirmation that they are on the Co-operative conveyancing panel as opposed to being supplied with a list from Co-operative directly.
I am downsizing from our house in Saltdean and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the buyers used a web based conveyancing practice as opposed to a conveyancing solicitor in Saltdean. Having lived in Saltdean for six years we know that this is a non issue. Is it a good idea to contact our local Authority to seek clarification that there is no issue.
It would appear that you have a conveyancing solicitor currently acting for you. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Are there restrictive covenants that are commonly picked up as part of conveyancing in Saltdean?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Saltdean. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying a new build house in Saltdean benefiting from help to buy. The builders refused to budge the amount so I negotiated 6k of extras instead. The house builders rep suggested that I not inform my solicitor about the side-deal as it would adversely affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.