Our conveyancer has identified a defect with the lease for the property we are buying in Bedford. The other side have offered title insurance as a workaround. We are happy with insurance and will cover the costs. Our property lawyer has advised that he must ensure that the mortgage company is content with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
Can your site be used to recommend a Conveyancing solicitor in Bedford even if I’m not purchasing or selling a house, for instance where I wish to acquire an office in Bedford with a mortgage from Halifax?
The service is primarily used to locate domestic conveyancing solicitors in Bedford but we have recorded at the bottom of this page some Bedford commercial conveyancing firms. You should speak with the solicitors directly to see if they can also act for Halifax
We are getting a further advance on our mortgage from Clydesdale as we intend to conduct alterations to our house in Bedford. Are we obliged to select a bricks and mortar Bedford solicitor on the Clydesdale conveyancing panel to deal with the legals?
Clydesdale would not normally appoint a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Clydesdale panel.
We have agreed to purchase a house in Bedford. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Coventry BS be concerned?
Given that you are obtaining a mortgage with Coventry BS your lawyer must check the conveyancing requirements contained in Part two of UK Finance Lenders’ Handbook for Coventry BS. The Council of Mortgage Lenders’ Handbook includes minimum conditions for solar panel roof-space leases, and solicitors are required to report to Coventry BS where a lease fails to satisfy these conditions. The provisions relate to the installation of panels on properties countrywide and is not limited to Bedford.
I have finally had an offer on an apartment in Bedford accepted, the owners do nevertheless have a dependent purchase. The vendors have placed an offer on on an apartment, but it’s not been accepted yet, and are looking at other properties booked. I have chosen a bricks and mortar conveyancing solicitor in Bedford. What do I do now? When do I get the mortgage application with Leeds Building Society started?
It is normal to have apprehensions where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is in the region of one thousand pounds, then valuation, Bedford conveyancing search fees, etc). First, you should check that your lawyer is on the Leeds Building Society conveyancing panel. Regarding the subsequent stages this very much depends on the specifics of your transaction, motivation for this property and on the state of the market. During a hot market some buyers will apply for a home loan with Leeds Building Society and arrange for the valuation and only if it was satisfactory would they ask their conveyancer to proceed with searches.
What tools are available to locate a Bedford solicitor on the Chelsea Building Society conveyancing panel? I have a car and am happy to travel upto 25miles to meet the lawyer.
You can use the facility on this page. Please pick a mortgage company and your location and you will see a number of Bedford conveyancing lawyers located nearest you. We have detailed some Bedford conveyancing firms at the bottom of this page and you can telephone them to check if they are on the Chelsea Building Society approved list
We're novice buyers - had an offer accepted, yet the estate agent told us that the owners will only go ahead if we instruct the agent's recommended solicitors as they need an ‘expedited deal’. Our preferred option is to instruct a family solicitor who is familiar with conveyancing in Bedford
It is unlikely the sellers are driving this. If they desire ‘a quick sale', turning down a genuine purchaser is not the way to achieve this. Speak to the owners direct and explain that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are chain free (d) you wish to move quickly (e)however you intend to instruct your own,trusted Bedford conveyancing firm - as opposed tothe ones that will provide their estate agent a commission or hit his conveyancing thresholds pre-set by senior management.
What makes a Bedford lease unmortgageable?
There is nothing unique about leasehold conveyancing in Bedford. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:
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Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Coventry Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to withdraw.
Bedford Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to buying
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Who takes responsibility for maintaining and repairing the building? Is anyone aware of any major works in the planning that could add a premium to the service fees? Are any of leasehold owners in dispute over their service charge liability?