I am considering applying for a Virgin Money mortgage for purchase of a new build (under development) in Braunstone with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Virgin Money ?
In theory, you could use a solicitor that is not on the Virgin Money conveyancing panel, but Virgin Money would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Are all Braunstone Conveyancing Quality Solicitors on the UBS conveyancing panel?
Some major banks and building societies now make use of CQS as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
We have agreed to purchase a house in Braunstone. One unusual aspect is that the roof has a solar panel. HSBC have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with HSBC your lawyer must comply with the conveyancing requirements outlined in Part 2 of UK Finance Lenders’ Handbook for HSBC. The CML Handbook contains minimum specifications for solar panel roof-space leases, and conveyancers are required to report to HSBC where a lease does not comply with these conditions. The requirements relate to the installation of panels on properties nationwide and is not isolated to Braunstone.
The mortgage over my property is with Barclays for my property in Braunstone. Conveyancing was finalised some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Barclays?
Your original mortgage agreement with Barclays will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Barclays’s mortgage conditions. It may be that Barclays will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Barclays directly. You need not do this via a Barclays conveyancing panel solicitor.
How does conveyancing in Braunstone differ for new build properties?
Most buyers of new build or newly converted property in Braunstone contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in Braunstone tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Braunstone or who has acted in the same development.
Am I better off to instruct a Braunstone conveyancing solicitor based in the area that I am hoping to buy? An old friend can deal with the legal work but they are based 400kilometers away.
The benefit of a local Braunstone conveyancing firm is that you can pop in to execute paperwork, hand in your ID and pester them if necessary. They will also have local insight which is a bonus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and in the main were happy that should trump using an unfamiliar Braunstone conveyancing lawyer solely due to them being local.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £350,000 flat in Braunstone in 10 days. The freeholder has quoted £300 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Braunstone?
Braunstone conveyancing on leasehold maisonettes normally necessitates administration charges levied by freeholders :
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Completing conveyancing due diligence questions
Where consent is required before sale in Braunstone
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I purchased a 2 bed flat in Braunstone, conveyancing formalities finalised 5 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Braunstone with an extended lease are worth £222,000. The average or mid-range amount of ground rent is £50 levied per year. The lease runs out on 21st October 2097
You have 71 years unexpired the likely cost is going to be between £9,500 and £11,000 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
I acquired a flat in Braunstone last 14/5/2025 and to date it is still not registered with the Land Registry. It was part of a development site and my conveyancer told me that it may take twelve months to complete the registration formalities. I have called HM Land Registry directly and they have informed me the original application was cancelled due to failure to reply to requisitions. Do I need to be concerned?
It is your conveyancer that you must get in touch with in order to satisfy any concerns which have arisen as part of the registration process for your Braunstone property. Normal Braunstone conveyancing practice includes an undertaking on the part of the seller's property lawyer that they will help resolve any question raised by HMLR so it may be a case of seeking to enforce that undertaking if necessary.