My wife and I are refinancing our maisonette in Silsworth with Kent Reliance. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose any adults 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 property is forfeited by the lender. I have two questions (1) Is this document specific to the Kent Reliance conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
First, rest assured that your Kent Reliance 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 Kent Reliance. This is solely used to protect Kent Reliance 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 Kent Reliance 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 there restrictive covenants that are commonly picked up during conveyancing in Silsworth?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Silsworth. 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 am purchasing my first flat in Silsworth with the aid of help to buy. The builders would not budge the amount so I negotiated 6k of fixtures and fittings instead. The estate agent suggested that I not disclose to my conveyancer about the extras as it would adversely affect my loan with the bank. 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.
Am I better off to go with a Silsworth conveyancing solicitor based in the location that I am purchasing? We have a good friend who can deal with the legal work however they are based 200kilometers drive away.
The primary upside of using a local Silsworth conveyancing firm is that you can pop in to execute documents, present your ID and apply pressure on them if necessary. They will also have local knowledge which is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and on the whole were happy that must trump using an unknown Silsworth conveyancing solicitor just because they are round the corner.
I am hoping to sell a parking space which is on a separate legal title with the land registry and hope to get 20,000 or so, to clear debts. There is a mortgage with Co-operative. Is it possible for you to refer me to a cheapish lawyer as the conventional £500-600 reduces the return somewhat. Although I live in Silsworth I dont need to instruct a Silsworth property lawyer.
LenderPanel.com is restricted to being a directory service for property lawyers who want to be listed as being on the approved conveyancing panel for Co-operative in certain locations such as Silsworth . We dont recommend any particular conveyancing practitioner.