My husband and I changing mortgage lender for our flat in Scunthorpe with TSB. We have a son 19 who lives with us. 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, waiving any legal rights in the event that the property is repossessed. I have a couple of concerns (1) Is this form unique to the TSB conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your TSB 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 TSB. This is solely used to protect TSB 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 TSB 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.
The Scunthorpe conveyancing lawyers that I appointed last week on my house acquisition in Scunthorpe have suddenly closed. I chose them because I needed a firm on the Kent Reliance conveyancing panel and my family Scunthorpe lawyer was not. I gave my credit card details for them to take £195 for searches. What do I do now?
If you have an estate agent involved then let them know straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Kent Reliance conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
The deeds to my house are lost. The conveyancers who conducted the conveyancing in Scunthorpe 4 years ago are no longer around. What are my next steps?
Nowadays there are copies made of almost everything, and your conveyancer will be aware precisely where to find all the relevant documentation so you may buy or dispose of your house without a hitch. Where duplicates can’t be located, your conveyancer may be able to put in place insurance or indemnities against future claims on your property.
How does conveyancing in Scunthorpe differ for newly converted properties?
Most buyers of new build property in Scunthorpe come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is built. This is because developers in Scunthorpe tend to purchase the site, 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 property lawyers 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 Scunthorpe or who has acted in the same development.
My lender have just issued us with a mortgage offer. We appointed a long established conveyancer in Scunthorpe last week. Today, our financial adviser called to say that the mortgage company said that we cannot use our solicitor as they aren't on their panel. As novices, we did not have a clue that the bank had some control over our choice Is this allowed?
You are at liberty to instruct any conveyancing solicitor you prefer to select including the said conveyancer in Scunthorpe but if they are not on the your lender's approved list you would have to incur additional cost so your bank can instruct their own conveyancer too. sometimes it is conceivable that your preferred conveyancing firm to get added to the mortgage company panel. Do make the most of internet tools including lenderpanel.com to find a conveyancing solcitor in Scunthorpe on the lender panel. You can go into your local mortgage company branch in Scunthorpe. They will know some good conveyancing solicitors in Scunthorpe on the panel for your lender.