Aston Brooke Solicitors remain open for business as usual and we are available to take new and existing enquiries over the telephone, post or via email.

CORONOVIRUS UPDATES
The Bank of Mum and Dad, With a Twist

7th August 2019

The property market has been unstable ever since the first mention of Brexit, buyers and sellers alike appear to be taking a back seat, hoping the market is in their favour once it all settles down. One thing that hasn’t changed through it all however, is how difficult it is for younger people to get on the property ladder; even young professionals who on paper seem like the perfect candidates are usually unable to come up with their deposit without any third party help.

For a long time the “bank of mum and dad” has worked by way of parents gifting or lending their children the required deposit, but there seems to be a new wave of parents helping their children get onto the ladder by selling their family home to them at under value (therein lies the twist!). Using this route, the parents usually sell the property for the amount outstanding on their mortgage, thereby ensuring their mortgage is paid off, with their children now owning the home and being responsible for their new mortgage.

A notable downside to these transactions is that most high street lenders do not, or at least are not very willing to lend on them.  At the moment the only bank that seems to be happy to grant a mortgage on a transaction of this kind is Natwest, whose panel of solicitors we are helpfully on.

If you are considering undertaking a transaction of this kind, please feel free to get in contact with us and our friendly and experienced property team will be glad to help.

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We are highly regarded with the services we offer, and due to our relationships with certain sectors in the economy, e.g. health care. As a result we are considered one of the best immigration law firms in London. Professional and skilled immigration lawyers in the Harrow area and renowned immigration lawyers in London, with specialised […]

Covid-19 update about Immigration 

Visit Visas The Secretary of State for the Home Department announced on 24 March 2020, that any foreign nationals who are unable to return home as a result of COVID-19 will be able to extend their visas. This applies to anyone who’s visas expired after 24.01.2020, and for those who cannot leave due to travel […]

Transfer of Equity 

In recent months we have had a rise in the number of Transfer of Equity (ToE) and Remortgage enquiries. Through this article, we will give you a brief explanation of what these transactions entail and what we as residential conveyancing solicitors can do to help. A ToE is a process through which a homeowner can […]

Independent Legal Advice: Why do I need it? 

You may have come across a situation where you have been asked to obtain ‘Independent Legal Advice’ in relation to your conveyancing matter. In fact, in most cases, a lender will advise you to seek Independent Legal Advice regarding your transaction when it becomes necessary to do so. This typically occurs where for example:   […]

Injunctions and domestic abuse 

If you are suffering from domestic violence, we are here to assist you through this challenging time. Our experienced family team are aware of the difficulties and the impact that domestic violence can have on individuals and children. We can prepare a court application quickly and in most cases we can be ready to apply […]

TESTIMONIALS
Professional Experts…
I first used Aston Brooke Solicitors over 3 years ago. Ever since then I have given them all my legal work, I find their staff to be very helpful and easy to talk to. I have brought over 7 residential properties and 2 commercial properties - each transaction has been dealt with professionally and I have always been kept informed.

Mr A Bajwa

Great Knowledge and Efficient
I was put in touch with solicitors at Aston Brooke through a mutual friend to handle a personal Health Care case. I can not speak highly enough for the service I received. My family and I are forever grateful for the all the help on our case. Thank You.

Mr M Grice

Easy to talk to
Ray Purewal at Aston Brooke was my point of contact and I found him to be a great source of knowledge for my case. He handled everything swiftly and dealt with the opposition in the best way possible. Many Thanks Ray!

Miss L Walker

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