My fiance and I intend to remortgage our penthouse in Boscastle with Skipton. We have a son approaching twenty who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. 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 a couple of questions (1) Is this form unique to the Skipton conveyancing panel as he never had to sign this form when we remortgaged 4 years ago (2) Does our son by signing this compromise 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 Skipton. This is solely used to protect Skipton 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 Skipton 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 require fast conveyancing in Boscastle as I am under a deadline to sign on the dotted line inside one month. A home loan is not required. Is it possible to decline from having conveyancing searches to save money and time?

As you are not getting a mortgage you have the choice not to have searches conducted although no law firm would advise that you don't. With plenty of history conveyancing in Boscastle the following are instances of what can show up and adversely affect future mortgageability: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Railway Schemes,...

Over the last few months I have been searching for a flat up to £305k and found one near me in Boscastle I like with amenity areas and transport links in the vicinity, the downside is that it only has 61 years on the lease. There is not much else in Boscastle in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?

If you require a home loan the shortness of the lease may be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.

How do I identify a Boscastle law firm on the Alliance & Leicester conveyancing panel? I have wheels and am willing to travel upto 20miles to meet the solicitor.

Feel free to make use of the facility on this page. Please pick a mortgage company and your location and you will see a number of Boscastle conveyancing lawyers located nearest you. We have detailed some Boscastle conveyancing firms towards the end of this page and you can ring them to verify if they are on the Alliance & Leicester panel

I am looking at a couple of flats in Boscastle which have approximately forty five years remaining on the lease term. Do I need to be concerned?

There are plenty of short leases in Boscastle. The lease is a right to use the property for a period of time. As a lease gets shorter the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is advisable to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this field.

I acquired a 1 bedroom flat in Boscastle, conveyancing was carried out in 1996. How much will my lease extension cost? Equivalent properties in Boscastle with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease ceases on 21st October 2088

With only 63 years left to run we estimate the premium for your lease extension to span between £16,200 and £18,600 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.