My fiance and I are refinancing our flat in West Sussex with Virgin Money. We have a son 18 who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. 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 two concerns (1) Is this form unique to the Virgin Money conveyancing panel as he never had 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?
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 Virgin Money. This is solely used to protect Virgin Money 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 Virgin Money 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.
We're in West Sussex, FTBs buying with a mortgage (lender is Skipton , and our lawyer is on the Skipton conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Skipton conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
What is the difference between a licensed conveyancer and conveyancing solicitor in West Sussex
Two types of professional can do conveyancing in West Sussex namely CLC regulated conveyancers or solicitors. Both professionals handle the legal services that required to complete the sale or acquisition of property. Both are obliged to perform West Sussex conveyancing on similar standards and guidelines so you may be sure that your conveyancing will be properly conducted and that all requirements and steps will be suitably followed.
Are all West Sussex Conveyancing Quality Solicitors on the Clydesdale conveyancing panel?
It is true that some lenders now make use of CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of firms.
We expect to receive a OIP from Clydesdale this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Clydesdale recommend any West Sussex solicitors on the Clydesdale conveyancing panel, or is it better to go independently?
You will need to appoint West Sussex solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. West Sussex is where the house is located. Is there any advice you can impart?
Flying freeholds in West Sussex are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside West Sussex you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in West Sussex 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 premises.
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At this site receive an accurate quote from a Solicitor or Licensed Conveyancer that understands the nuances of your conveyancing in West Sussex. Unlike many estate agents and many comparison sites we are not in the business of charging firms a commission if you select them for your home move in West Sussex