My fiance and I swapping mortgage lender for our flat in Longthorpe with Virgin Money. We have a son approaching twenty who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any 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 did not need to sign this form when we purchased 3 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 Virgin Money 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 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.
My brother-in-law has suggested I instruct a conveyancing solicitor in Longthorpe. I I am struggling to find out whether they are on the Virgin Money approved list of lawyers. Could you help?
The first thing to do is phone the solicitor and enquire if they are on the lender panel. Alternatively you should call Virgin Money who may be able to help.
My wife and I are selling our home in Longthorpe and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. A high street Longthorpe lawyer would know this is not the case. For the life of me I don't know why the buyers used a national conveyancing outfit as opposed to a conveyancing solicitor in Longthorpe. We have lived in Longthorpe for six years we know that this is a non issue. Should we contact our local Authority to seek confirmation that the buyers are looking for.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
What does commercial conveyancing in Longthorpe cover?
Commercial conveyancing in Longthorpe covers a wide array of services, provided by qualified solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
What are your top tips when it comes to finding a Longthorpe conveyancing practice to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Longthorpe conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Longthorpe conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be useful:
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What are the charges for lease extension conveyancing? If the firm is not ALEP accredited then why not?
Longthorpe Leasehold Conveyancing - A selection of Queries Prior to buying
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What is the name of the managing agents? Generally speaking the outlay for major works are not incorporated into the maintenance charges, although some managing agents in Longthorpe obliged leaseholders to pay into a sinking fund created for the specific purpose of building a fund for larger works. The best form of lease arrangement is a share of the freehold. In this arrangement the tenants enjoy being in charge if their destiny and notwithstanding that a managing agent is frequently employed if the building is larger than a house conversion, the managing agent is directed by the tenants.
My conveyancing in Longthorpe completes on Friday, but the couple I am purchasing off wants to vacate the next day at at 2pm. Can I accept such a plan?
Where you require a loan then your property lawyer will demand that you have vacant possession on Friday - the mortgage company will require it.