My fiance and I intend to remortgage our flat in Woodford with HSBC. We have a son 19 who lives with us. 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 flat is repossessed. I have a couple of questions (1) Is this document specific to the HSBC conveyancing panel as he never had to sign this form when we bought 5 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 HSBC. This is solely used to protect HSBC 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 HSBC 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.
Can your site be used to locate a Conveyancing solicitor in Woodford even where I’m not buying or disposing of a house, for example if I wish to acquire an office in Woodford with a loan from Virgin Money?
The service is primarily there to get a quote from residential conveyancing solicitors in Woodford but we have recorded at the end of this page a selection of Woodford commercial conveyancing firms. You should enquire with the solicitors directly to establish if they can also act for Virgin Money
My husband and I are buying a newly converted apartment in Woodford with a loan from Aldermore.We would like to retain our Woodford conveyancing solicitor but Aldermore advised that his firm is not listed on their "panel". we are left little option but to use a Aldermore panel firm or retain our high street solicitor and fork out for a Aldermore panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The loan issued to you contains various provisions, one of which will be that solicitors will be on the Aldermore solicitor panel. in the past, most lenders had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Aldermore
I'm refinancing my current house to a BTL loan with Barclays Direct and intend to use the remaining equity towards further property. The area we are talking about is Woodford. Will your conveyancers be able to act for the two lenders and tie in the conveyances?
Do use our comparison tool on this page to check that the lawyers are approved by both lenders. Assuming that they are the lawyer will be able to connect the two deals but you should talk with you solicitor and communicate your desired outcome and requirements.
I am in need of some leasehold conveyancing in Woodford. Before I get started I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and 99.9% are in Woodford - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
We have reached the end of our tether in trying to reach an agreement for a lease extension in Woodford. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to arrive at the price.
An example of a Freehold Enfranchisement case for a Woodford residence is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case related to 2 flats. The remaining number of years on the lease was 69.26 years.