My husband and I intend to remortgage our apartment in Slough with Aldermore. We have a son approaching twenty who lives with us. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is repossessed. I have two concerns (1) Is this document specific to the Aldermore conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
First, rest assured that your Aldermore 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 Aldermore. This is solely used to protect Aldermore 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 Aldermore 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'm purchasing a new build house in Slough with the aid of help to buy. The builders refused to budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not reveal to my solicitor about this side-deal as it would put at risk my mortgage with Bank of Scotland. 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.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Slough is the location of the property. Is there any guidance you can impart?
Flying freeholds in Slough are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Slough you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Slough may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My uncle has recommend that I use his conveyancers in Slough. Do I follow his guidance?
No doubt the best way to select a conveyancing solicitor is to seek guidance from friends or family who have previously instructed the firm you're considering.
Is it true that a Slough conveyancing company has court proceedings brought against them by clients for not carrying out the appropriate conveyancing searches?
We are not aware of such a Slough conveyancing matter but according to a recent report, clients acquiring a property elsewhere in England successfully won a case against their lawyer due to development plans to erect a wind farm failing to be identified in conveyancing searches.
Where you are buying in Slough It is important that your lawyer conduct all Slough conveyancing searches required making sure that you have accurate and current information ahead of buying a home in Slough.