My wife and I intend to remortgage our apartment in Hedge End and Botley with HSBC. We have a son 19 who lives at home. Our solicitor has asked us to disclose 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, waiving any legal rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this form unique to the HSBC conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) Does our son by signing this giving up his rights 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 recommend a Conveyancing solicitor in Hedge End and Botley even if I’m not purchasing or selling a house, for example if I wish to buy an office in Hedge End and Botley with a loan from Barclays Direct?
Our search tool is predominantly there to get a quote from domestic conveyancing solicitors in Hedge End and Botley but we have set out towards the bottom of this page some Hedge End and Botley commercial conveyancing firms. You should make contact with the firm directly to establish if they are also authorised to represent Barclays Direct
The estate agent has sent us the confirmation of our purchase of a new build flat in Hedge End and Botley. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Hedge End and Botley
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan.
I have been on the look out for a leasehold apartment up to £245,000 and identified one round the corner in Hedge End and Botley I like with a park and station in the vicinity, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Hedge End and Botley in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage the shortness of the lease will be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
My father has suggested that I use his conveyancers in Hedge End and Botley. Should I use them?
Much as we are happy to recommend a Hedge End and Botley conveyancing lawyer the best way to select a conveyancing practitioner is to get recommendations from friends or relatives who have actually experience in using the conveyancer you're contemplating using.