How do I check that the solicitor handling my conveyancing in Bedworth is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Platform Home Loans Ltd thus paying £187.00 plus VAT in additional conveyancing fees.
You should make the most of the find a conveyancing panel solicitor tool on this site. Pick the mortgage company and type ‘Bedworth’ or your location and you will discover numerous solicitors located in Bedworth or by proximity to you.
Various internet forums that I have frequented warn that are the number one cause of hinderance in Bedworth conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Bedworth.
The deeds to our home are lost. The conveyancers who dealt with the conveyancing in Bedworth 5 years ago have long since closed. What are my next steps?
As long as the title is registered the information relating to your ownership will be recorded by HMLR under a Title Number. It is easy to perform a search at the Land Registry, identify your house and order up to date copies of the property title for a small fee. Where the title is Leasehold then the Land Registry will also normally retain a certified duplicate of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
I decided to have a survey done on a property in Bedworth ahead of instructing lawyers. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some lenders may not grant a loan on such a property.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bedworth. Conveyancing may be slightly more expensive based on your lender's requirements.
I'm refinancing my current house to a buy to let mortgage with Godiva Mortgages Ltd and intend to use the remaining equity towards further house. The area we are looking at is Bedworth. Will your conveyancers be able to act for both sets of mortgage companies and link together the conveyances?
Do use our search tool on this page to be sure that the solicitors are approved by both lenders. On the basis that they are your conveyancer will be able to connect the two conveyancing matters but you should talk with you conveyancer and make clear your desired outcome and requirements.
I own a leasehold flat in Bedworth. Conveyancing was completed in 2011. I have been told that I mustn’t allow the the remaining lease term to fall too short. Why is that a problem?
Bedworth domestic long term leases are for a fixed term - normally ninety nine years when they commenced. However many appartments in Bedworth were constructed or converted in the 60’s and so these leases now have under eighty years remaining. That may seem like plenty of time however Banks, Building Societies and other mortgage companies on the whole require leases to have a minimum of seventy five years remaining to be mortgageable. This means that when you come to sell the property you will need a lease extension if you are nearing eighty years. To maximise your property value you should be considering whether to extend your lease well in advance of selling the property. There are also advantages to taking action before the lease hits eighty years as when the lease is less than 80 years the amount to be paid to extend starts to increase.