Much to our surprise we have been told by our lender that my Bedford solicitor is not on the mortgage company Conveyancing panel. How can I check?
The first thing you need to do is to call your Bedford lawyer directly. You lawyer should advise you of the situation. Where they are not on the panel they may be able to suggest a Bedford conveyancing practice that is on the approved list of lawyers for your bank.
My grandfather passed away last year and as sole heir and executor I was left the property in Bedford. The house had a relatively small loan left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to TSB, pay off the mortgage. Is this possible?
If you intend to re-mortgage then TSB will require that you use a conveyancer on the TSB conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your TSB conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the TSB mortgage is registered as a charge at the Land Registry.
I am helping my mother sell her flat in Bedford. Will the conveyancing solicitor order the EPC or it is for me to see to?
After the abolition of HIPs, EPC’s was left as a required element of selling a property. An energy performance certificate must be commissioned in advance of the property being put on the market. It is not a task that lawyers ordinarily organise. Where you are instructing a Bedford conveyancing solicitor they might be willing to arrange EPC’s given their contacts with long established local providers
It is unclear whether my lender requires a lease extension. I have telephoned my Bedford building society branch on numerous occasions and was told they are content with the situation and they will lend. My Bedford conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they will not lend in accordance with their published requirements. Who do I believe?
The lawyer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I had an offer accepted on a property in Bedford on 4/6/2021, valuation was booked 2 days after, all came back fine. Property lawyer retained, so all that was missing was my mortgage offer. Having made daily calls to Aldermore and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Aldermore conveyancing panel. Are Aldermore entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
The deeds to our home are lost. The conveyancers who did the conveyancing in Bedford 4 years ago no longer exist. Will I be able to sell the house?
In today’s world there are copies made of almost everything, and your solicitor will be aware exactly where to look for all the relevant documentation so you may purchase or sell your property without any difficulty. If copies can’t be located, your conveyancer may be able to put in place insurance or indemnities against future claims on your property.
I opted to have a survey done on a property in Bedford before instructing conveyancers. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some banks may refuse to issue a loan on this type of premises.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bedford. Conveyancing may be slightly more expensive based on your lender's requirements.
I am in need of some leasehold conveyancing in Bedford. Before diving in I require certainty as to the remaining lease term.
If the lease is registered - and 99.9% are in Bedford - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Leasehold Conveyancing in Bedford - Examples of Queries Prior to Purchasing
If a Bedford lease has fewer than eighty years it will impact the value of the apartment. Check with your lender that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will most likely require a lease extension sooner rather than later and it is worth discovering what this would cost. Remember, in most cases you would be required to have owned the residence for two years before you are legally able to carry out a lease extension. Be sure to investigate if there is anything that is prohibited in the lease. For example it is fairly common in Bedford leases that pets are not allowed in certain buildings in Bedford. If you like the flatin Bedford yet your dog is not allowed to make the move with you then you will be presented with a hard decision. Plenty Bedford leasehold properties will incur a service charge for the upkeep of the block set on behalf of the freeholder. If you purchase the apartment you will have to meet this contribution, usually quarterly during the year. This can vary from several hundred pounds to thousands of pounds for buildings with lifts and large communal areas. There will also be a rentcharge for you to pay annual, ordinarily this is not a large amount, say about £50-£100 but you need to enquire as occasionally it can be prohibitively expensive.