My partner and I intend to remortgage our penthouse in Brighton with . We have a son 18 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this document specific to the conveyancing panel as he never had to sign this form when we bought 4 years ago (2) In signing this form is our son in any way compromising his right 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 . This is solely used to protect 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 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.
We note that you have a search directory identifying solicitors on the conveyancing panel. Do companies pay you a commission if I instruct them for our conveyancing in Brighton?
We are a listing service only for law firms wishing to communicate if they are on the conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Brighton.
Are the BSA intent on creating a search tool with a view to list practices on the conveyancing panel for example in Brighton?
We are not aware of any plans on the part of the BSA to promote such a tool.
The estate agent has sent us the confirmation of our purchase of a new build flat in Brighton. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Brighton
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Forfeiture - bankruptcy or liquidation must not apply under this provision.
Over the last few months I have been searching for a flat up to £235,500 and found one near me in Brighton I like with amenity areas and station in the vicinity, however it's only got 52 remaining years left on the lease. I can't really find anything else in Brighton for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage the shortness of the lease will likely be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.