My partner and I changing mortgage lender for our maisonette in Wapping with Santander. 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. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is repossessed. I have a couple of questions (1) Is this form unique to the Santander conveyancing panel as he never had to sign this form when we remortgaged 5 years ago (2) In signing this form is our son in any way compromising his right 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 Santander. This is solely used to protect Santander 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 Santander 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.
Can your site be used to recommend a Conveyancing solicitor in Wapping even where I’m not buying or disposing of a house, for instance if I want to acquire an office in Wapping with a loan from Aldermore?
The service is predominantly used to help choose domestic conveyancing solicitors in Wapping but we have listed towards the end of this page some Wapping commercial conveyancing firms. You will need to speak with the company directly to see if they are also authorised to represent Aldermore
Will our solicitor be raising enquiries concerning flooding as part of the conveyancing in Wapping.
Flooding is a growing risk for lawyers dealing with homes in Wapping. There are those who purchase a house in Wapping, completely aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, however there are a numerous checks that can be initiated by the buyer or on a buyer’s behalf which can give them a better understanding of the risks in Wapping. The standard completed inquiry forms supplied to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the vendor to find out whether the property has historically flooded. If the property has been flooded in past and is not disclosed by the vendor, then a purchaser could commence a compensation claim as a result of such an incorrect reply. The purchaser’s conveyancers should also commission an enviro search. This will indicate whether there is any known flood risk. If so, additional inquiries will need to be conducted.
I'm purchasing my first flat in Wapping with a mortgage from Barnsley Building Society. The developers would not reduce the price so I negotiated 6k of extras instead. The estate agent told me not disclose to my conveyancer about this deal as it will put at risk my mortgage with Barnsley Building Society. Should I keep quiet?.
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.
My cousin has recommend that I use his lawyers for conveyancing in Wapping. Do I take his advice?
Much as we are happy to recommend a Wapping conveyancing lawyer the ideal way to find a conveyancing lawyer is to seek referrals from friends or relatives who have previously instructed the solicitor you're are thinking of instructing.