My husband and I swapping mortgage lender for our maisonette in Lansbury with Coventry BS. We have a son 19 who lives with us. Our solicitor requested us to identify 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, giving up any rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this form unique to the Coventry BS conveyancing panel as he did not need to sign this form when we bought 5 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 Coventry BS. This is solely used to protect Coventry BS 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 Coventry BS 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 have Fifty Six years unexpired on my lease and require a lease extension for my flat in Lansbury. Conveyancing solicitors on the Virgin panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 23/2/2025 the requirements read as follows :
Over the last few months I have been searching for a ground for flat up to £195,000 and found one near me in Lansbury I like with a park and station in the vicinity, however it's only got 49 remaining years left on the lease. I can't really find anything else in Lansbury in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage that many years may be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
Is it possible to swap solicitor as I need to select one who is on the HSBC Bank conveyancing list. I hired a local conveyancing solicitor in Lansbury round the corner but the firm is not approved by HSBC Bank
It would be our pleasure to help you select a conveyancing solicitor in Lansbury on the HSBC Bank panel. Please note that the law firms that we work with do not pay us commission if you instruct them and are registered with the Solicitors Regulation Authority who oversee all conveyancing solicitors in Lansbury. In utilising search facility on this page, you can contrast costs for conveyancing solicitors in Lansbury and throughout England and Wales.
We have AIP from Virgin Money who indicated that they will lend up to £117k. When do I need to instruct a practitioner for conveyancing? Lansbury is where we plan to move to.
You can instruct a conveyancer now so that the conveyancer can open the file so they can conduct their ID checks etc. Once you wish them to commence work they will seek a payment on account normally about £175. That should normally be once you have the loan offer from the lender and valuation results, however if you wish to speed matters you can start the ball rolling quicker albeit risking some money.