I plan on buying a flat in Bedford. My Solicitor is not listed on the lender approved list. Am I still permitted to retain my Bedford conveyancing solicitor notwithstanding that they are not on the mortgage company approved list?
One must use a solicitor to deal with the formalities if you need a mortgage to purchase your property. They will carry out all the necessary legal checks on the property, make sure that you will be properly registered as the owner and ensure that all the required mortgage documentation is dealt with. You could instruct a Bedford conveyancer of your choice. Nevertheless, where the conveyancer selected is not on the mortgage company solicitor panel additional fees will be levied as separate legal representation will be required by them. Bank panel applications can be submitted, so if your lawyer has not historically applied for membership they should take the opportunity to apply.
I am in a contract race with another buyer for a property in Bedford. What can I do to expedite matters?
First, If you are under a tight deadline to exchange it is advisable to make sure that your conveyancer is familiar with the area as they will have local connections and intelligence. It is possible that they may have transacted otherproperties in the same street. You would be best advised to use a Bedford conveyancing lawyer. In addition, be sure that the lawyer is on the on the approved list for your mortgage company. It is claimed that nearly one in five of Bedford conveyancing transactions are delayed or derailed after discovering a buyer’s conveyancer was not on their mortgage lender’s panel. In many cases this discovery resulted in the conveyancing being delayed by an average of 21 days. It is believed that this issue impacts in the region of 100,000 home sales every year. Almost all Bedford conveyancing firms can not represent certain mortgage companies so do check at the outset.
I am the registered owner of a freehold property in Bedford yet invoiced for rent, why is this and what is this?
It is rare for properties in Bedford and has limited impact for conveyancing in Bedford but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
There are numerous conveyancing solicitors in Bedford but how do I know who's good?
Do not opt for the cheapest Bedford conveyancing costs illustration. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Is there a list of Lloyds panel conveyancers in Bedford on the UK Finance Lenders’ Handbook Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lending institutions make their panel listings available on the web. If you are in need of a Bedford conveyancer on the Lloyds please make the most of our facility.
We are getting a further advance on our home loan from Santander as we wish to conduct a loft conversion to our house in Bedford. Are we obliged to select a high street Bedford solicitor on the Santander conveyancing panel to handle the legals?
Santander do not ordinarily appoint firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Santander panel.
I am purchasing my first flat in Bedford with a loan from Barnsley Building Society. The sellers would not budge the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent advised me not to tell my conveyancer about the side-deal as it could jeopardize my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Are there any apps to assist me to identify a Bedford law firm on the Chelsea Building Society conveyancing panel? I have a car and am willing to travel upto 20miles to meet the solicitor.
Feel free to make use of the tool on this website. Please select a mortgage company and your location and you will see a number of Bedford conveyancing lawyers locally. We have detailed some Bedford conveyancing firms towards the end of this page and you can ring them to verify whether they are on the Chelsea Building Society member panel