My fiance and I intend to remortgage our penthouse in Maida Vale with Yorkshire BS. 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. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Yorkshire BS conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) Does our son by signing this extinguish his entitlement 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 Yorkshire BS. This is solely used to protect Yorkshire BS 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 Yorkshire BS 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 Maida Vale even where I’m not buying or disposing of a house, for example if I want to acquire a shop in Maida Vale with a loan from TSB?
Our search tool is primarily used to select residential conveyancing solicitors in Maida Vale but we have recorded at the end of this page a few Maida Vale commercial conveyancing firms. You should speak with the firm directly to see if they can also act for TSB
We are purchasing a purpose built flat in Maida Vale with a homeloan from Coventry Building Society.We use our Maida Vale conveyancing practitioner but Coventry Building Society says he's not on their approved list of member firms. we are left little option but to use a Coventry Building Society panel firm or retain our local solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Coventry Building Society use our lawyer?
No, not really. The home loan offered to you is subject to its terms and conditions, a common one being that conveyancers must be on the Coventry Building Society approved list. Until recently, most lenders had large numbers of solicitors on their panels: a borrower could choose 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for Coventry Building Society
I'm refinancing my current house to a buy to let mortgage with Barclays Direct and intend to use the remaining equity as a down payment on further house. The neighborhood we are talking about is Maida Vale. Will your lawyers be able to act for the two mortgage companies and tie in the transactions?
Make use of our search tool on this site to check that the solicitors are approved by both lenders. Assuming that they are your conveyancer should be able to tie up the two deals but you should have a chat with you conveyancer and make clear your expectations and needs.
I am intending to rent out my leasehold apartment in Maida Vale. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
A lease dictates relations between the freeholder and you the flat owner; in particular, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Maida Vale do not contain subletting altogether – such a clause would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
I inherited a ground-floor 1960’s flat in Maida Vale. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
Most certainly. We can put you in touch with a Maida Vale conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Maida Vale flat is 4 & 4A Charteris Road in June 2009. the Tribunal held that the price to be paid for the enfranchisement of 4/4a Charteris Road to be £15,510 for at 4and £15,694 for at 4a This case was in relation to 2 flats. The unexpired residue of the current lease was 70.02 years.
As a leasehold owner I am on the hook for a service charge for my flat in Maida Vale. Due to losing my job and personal issues I fell behind with payments. The management company agreed a clearance schedule but there is still three thousand pounds outstanding at the current time.
I am under pressure to sell and I am worried this can hold me back if I have to settle the amount due in advance. I'd like to sell up and subsequently discharge the arrears from the completion monies - is this achievable?
The conveyancer undertaking your Maida Vale sale should be in a position to negotiate with the management company, with a new to seeing if they would accept payment out of the completion monies. Here is indicative of why it is sensible to choose a solicitor in Maida Vale as they may well have an open line of communication with the parties.