My fiance and I intend to remortgage our penthouse in New Eltham with Barclays. We have a son 19 who lives with us. Our solicitor has asked us to disclose 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 flat is forfeited by the lender. I have two questions (1) Is this document specific to the Barclays conveyancing panel as he never had 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 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.
In looking at consumer advice sites for an affordable lawyer in New Eltham, most advise that I should use a CQS accredited lawyer. What is CQS?
New Eltham Conveyancing Quality Scheme practices have been granted certification by the law Society The Law Society introduced CQS to promote high standards in the in the legal transfer of properties. CQS helps home movers to identify practices that provide a quality residential conveyancing. New Eltham is one of locations in England and Wales in which CQS are based. The scheme requires practices to undergo a strict assessment, compulsory training, self-reporting, random audits and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Council of Mortgage Lenders.
How does conveyancing in New Eltham differ for new build properties?
Most buyers of new build premises in New Eltham approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is ready to move into. This is because developers in New Eltham tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in New Eltham or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £245,000 and identified one near me in New Eltham I like with open areas and railway links nearby, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in New Eltham for this price, so just wondered if I would be making a grave error buying a short lease?
Should you require a home loan the remaining unexpired lease term may be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
We're new to the buying process - had an offer accepted, yet the agent has warned us that the owners will only proceed if we instruct the agent's recommended conveyancers as they want a ‘quick sale’. My instinct tells me that we should use a local conveyancer who is accustomed to conveyancing in New Eltham
It is improbable the owners are driving this. If they desire ‘a quick sale', taking such a hostile approach to a serious buyer is likely to cause more damage than good. Bypass the agents and go straight to the owners and make sure they understand (a)you are genuine purchasers (b)you are ready to progress, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)but you intend to use your preferred New Eltham conveyancing lawyers - not the ones that will provide their estate agent a kickback or hit his conveyancing targets demanded by corporate headquarters.
Been searching for a conveyancer for leasehold sale conveyancing in New Eltham. We are selling, uncomplicated no mortgage to redeem, no rush, no onward purchase. Got a quote from a lawyer for a thousand pounds including VAT which is a little steep considering its so straightforward. Can I pay less for conveyancing in New Eltham?
As it’s a sale only, £425 + VAT would be about the lowest for sale conveyancing in New Eltham.