My husband and I intend to remortgage our maisonette in North Baddesley with Nottingham. We have a son 18 who lives at home. Our solicitor requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is repossessed. I have a couple of questions (1) Is this document specific to the Nottingham conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) Does our son by signing this extinguish his rights to inherit the property?

First, rest assured that your Nottingham conveyancing panel solicitor is doing the right thing 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 Nottingham. This is solely used to protect Nottingham 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 Nottingham 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.

I am looking for a leasehold apartment up to £245,000 and found one round the corner in North Baddesley I like with open areas and transport links in the vicinity, the downside is that it only has 51 years on the lease. I can't really find anything else in North Baddesley for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?

Should you need a home loan that many years will be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.

How can the Landlord & Tenant Act 1954 affect my business offices in North Baddesley and how can you help?

The 1954 Act provides security of tenure to business leaseholders, granting the right to make a request to court for a continuation of occupancy at the end of an expired lease. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. North Baddesley is one of our numerous locations in which our lawyers are based

I am a negotiator for a long established estate agent office in North Baddesley where we have witnessed a number of flat sales jeopardised as a result of short leases. I have been given contradictory information from local North Baddesley conveyancing firms. Can you confirm whether the seller of a flat can instigate the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

North Baddesley Conveyancing for Leasehold Flats - Sample of Queries before buying

Be sure to investigate if the the lease includes any unreasonable restrictions in the lease. For example plenty of leases prohibit pets being permitted in certain buildings in North Baddesley. If you love the propertyin North Baddesley yet your dog can’t make the move with you then you have a very hard choice. On the whole the outlay for major works are not incorporated into the maintenance charges, although there some managing agents in North Baddesley require leasehold owners to contribute towards a sinking fund and this is used to offset against larger repairs or maintenance. What is the the remaining lease term?

Are the North Baddesley conveyancing lawyers identified as being on the mortgage company conveyancing panel, together with their details provided by the mortgage company?

North Baddesley law firm practices and firms carrying out conveyancing in North Baddesley themselves provide us confirmation that they are on the lender conveyancing panel as opposed to being supplied with a list from the bank directly.