My fiance and I changing mortgage lender for our maisonette in Ashington with Barclays. We have a son 18 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 flat is repossessed. I have a couple of concerns (1) Is this form unique to the Barclays conveyancing panel as he never had to sign this form when we bought 4 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 Barclays 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 Barclays. This is solely used to protect Barclays 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 Barclays 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 had intended to instruct a property lawyer in Ashington for our house move. Our broker informed us that our bank Aldermore won't deal with them. Surely this is unfair competition?
Lenders ordinarily imposes restrictions either the category or the volume of conveyancing practices on their panel. A common example of such restriction(s) being that a law practice must have two or more partners. In addition to restricting the profile of firm, a few banks have reduced the number of solicitor practices they use to represent them. Be aware that Aldermore have no responsibility for the quality of advice provided by any member of Aldermore Conveyancer Panel. Mortgage fraud was a primary driver in the rationalisation of solicitor panels a few years ago even though there remains mixed views concerning the extent of solicitor involvement in some of that fraud. Figures from the Land Registry indicate that hundreds of law firms, including some in or near Ashington only perform very few conveyances a year.
Are there restrictive covenants that are commonly identified during conveyancing in Ashington?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Ashington. 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 looking for a leasehold apartment up to £245,000 and identified one close by in Ashington I like with amenity areas and transport links in the vicinity, however it's only got 49 years unexpired on the lease. There is not much else in Ashington in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a home loan that many years will be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
In what way can the Landlord & Tenant Act 1954 affect my business property in Ashington and how can your lawyers assist?
The particular law that you refer to gives protection to commercial lessees, granting the a statutory right to apply to court for a renewal tenancy and remain in occupation at the end of the lease term. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act for protection and help with commercial conveyancing in Ashington
My husband and I are first time buyers - had an offer accepted, yet the selling agent advised that the vendor will only proceed if we instruct the agent's preferred lawyers as they need a ‘quick sale’. We would rather use a local solicitor with experience of conveyancing in Ashington
We suspect that the owner is not behind this request. If they want ‘a quick sale', turning down a motivated buyer is not the way to achieve this. Contact the owners directly and explain that (a)you are serious buyers (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you intend to instruct your own,trusted Ashington conveyancing firm - not the ones that will earn the estate agent a introducer fee or achieve conveyancing figures pre-set by senior management.