I can't travel far from Honor Oak. Is there a reason why all Honor Oak lawyers are not on all bank panels?
Pre- 2008 most lenders had an approach to risk which is different than today. The Financial Services Authority in 2010 conducted a thematic review into property fraud which in summary warned lenders: know the conveyancers on your panel. Consequently, banks have subsequently requiredmore information from law firms about their processes and the individuals who work for them and set certain criteria such as completing a minimum volume of transactions. Hundreds of firms have found themselves excluded from lender panels even though they had 100% healthy disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms were never going to meet the criteria of amount of transactions the lenders required.
My fiance and I intend to remortgage our flat in Honor Oak with Barclays. We have a son 19 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this form unique to the Barclays 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 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.
Why is leasehold purchase conveyancing in Honor Oak is more expensive?
Honor Oak leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
How can the Landlord & Tenant Act 1954 impact my business property in Honor Oak and how can your lawyers assist?
The 1954 Act provides a safeguard to business leaseholders, granting the right to apply to court for a continuation of occupancy when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing practices who use the act for protection and assist with commercial conveyancing in Honor Oak
I need to appoint a conveyancing solicitor for purchase conveyancing in Honor Oak. I have stumble upon a site which seems to have the ideal offering If it is possible to get all formalities done via email that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?