My husband and I are refinancing our flat in Farnborough with Principality. We have a son 19 who lives at home. Our solicitor requested us to identify any adults 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 property is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Principality conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) Does our son by signing this compromise his entitlement 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 Principality. This is solely used to protect Principality 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 Principality 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 been recommended a conveyancing solicitor in Farnborough. I I would like to check if they are accepted on the Virgin Money approved list of lawyers. Can you assist?

You should call your conveyancer and ask them whether they are on the lender panel. Alternatively please call Virgin Money who may be able to help.

Will our lawyer be raising enquiries about flooding during the conveyancing in Farnborough.

Flooding is a growing risk for conveyancers dealing with homes in Farnborough. There are those who purchase a house in Farnborough, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.

Solicitors are not best placed to give advice on flood risk, but there are a number of checks that can be undertaken by the buyer or on a buyer’s behalf which will give them a better appreciation of the risks in Farnborough. The conventional set of completed inquiry forms sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the seller to determine whether the property has historically flooded. In the event that flooding has previously occurred which is not disclosed by the vendor, then a purchaser may commence a compensation claim as a result of such an incorrect answer. The buyer’s solicitors may also commission an environmental report. This should indicate if there is a recorded flood risk. If so, additional investigations will need to be conducted.

I have been on the look out for a ground for flat up to £235,500 and found one near me in Farnborough I like with a park and station nearby, however it only has 52 years on the lease. There is not much else in Farnborough in this price bracket, so just wondered if I would be making a mistake buying a short lease?

If you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the expected 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 could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.

I am using a search engine for the phrase conveyancing in Farnborough it reveals many solicitorsin the area. With so much choice what is the best way to find the suitable conveyancer for purchase transaction?

The best way of finding a suitable conveyancer is via personal recommendation, so ask colleagues and relatives who have acquired a property in Farnborough or a local estate agent or mortgage broker. Fees for conveyancing in Farnborough vary, so it's sensible to request at least three quotes from different companies. Be sure to obtain confirmation what costs in the quote includes.