My fiance and I changing mortgage lender for our apartment in Trimdon with RBS. We have a son 19 who lives with us. Our solicitor requested us to identify any adults 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 apartment is forfeited by the lender. I have a couple of questions (1) Is this form unique to the RBS conveyancing panel as he did not need to sign this form when we purchased 5 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 RBS 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 RBS. This is solely used to protect RBS 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 RBS 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 the case that all Trimdon CQS (Conveyancing Quality Scheme) solicitors are on the Leeds Building Society conveyancing list of approved practices?
It is true that some banks and building societies now use CQS as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their panels.
I have paid off my mortgage with Virgin Money. I assume I don't need a Trimdon conveyancing practitioner on the Virgin Money panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
I have decided to exercise my right to buy my property in Trimdon off the council. I have a mortgage offer with Yorkshire BS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
I know that there are debates on Chancel Insurance on online forums. Do I require chancel insurance when purchasing a residence in Trimdon? or Apparently there is historic law that could mean that house owners residing in a parish church boundary may be liable to pay for maintenance towards the chancel within the church. Is this applicable for conveyancing in Trimdon?
Unless a prior purchase of the house completed after 12 October 2013 you could assume that conveyancing practitioners handling conveyancing in Trimdon to remain encouraging a chancel search and or chancel repair liability insurance.
I'm buying a new build house in Trimdon with a mortgage from The Mortgage Works. The sellers would not move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent advised me not to tell my lawyer about this extras as it would adversely affect my mortgage 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.
I am looking for a ground for flat up to £195,000 and found one round the corner in Trimdon I like with open areas and railway links in the vicinity, however it's only got 61 remaining years left on the lease. There is not much else in Trimdon suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you need a home loan the shortness of the lease will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.