EVERYDAY LAW FOR EVERYDAY PEOPLE
Ancillary Property Services
We can provide you with professional advice and/or drafting of those ‘one-off’ ancillary property type matters such as:-
- Private Loan Agreements
- Reverse Mortgages
- Guarantor Advice
- Building Contracts
Ancillary property services
Frequently Asked Questions
Whether you’re building a new home or carrying out significant renovations, you are likely required to enter into a written contract with the builder.
Standard form Building Contracts are typically used by most builders and although there are different versions of Contracts, most are heavily weighted in favour of the builder and indeed many parts of the Contract can complicated to understand.
It is important to have a professional review your Building Contract before you sign it to identify any issues that may lead to additional costs and unnecessary stress in the future. Many disputes between homeowners and builders may well have been avoided if the Building Contract had been reviewed prior to being signed.
A Reverse Mortgage can be useful to relieve financial pressure or to improve your lifestyle but you need to think about it carefully before committing. Mortgaging your home can seriously impact your finances and the quality of life you may hope to live once you have retired.
It is important that you understand what a Reverse Mortgage is, what is expected of you by the lender and also the potential risks that should be considered before entering into this type of an agreement.
Before entering into a Reverse Mortgage it is vital to get advice from both a legal advisor and a financial advisor.
A guarantee is an assurance or promise. A person who guarantees a loan agreement is known as the guarantor.
If you’re asked to guarantee a loan for a family member or a friend you must be aware that you are responsible for paying back the entire loan if the borrower cannot.
Going guarantor is a serious financial commitment. Before agreeing you must think carefully about your own finances and make sure that you understand the risks involved.
If you are considering being a guarantor then it is important that you obtain professional independent legal advice before you sign any document.