My wife and I are looking to buy a flat in Bedford and have instructed a Bedford conveyancing practice. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Coventry Building Society have this morning contacted us to inform me that they have now hit a problem as our Bedford conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Bedford lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
We are buying a flat and need a conveyancing solicitor in Bedford who is on the Virgin Money conveyancing panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Virgin Money . We don't recommend any particular firms conducting conveyancing in Bedford.
I am looking to buy a flat and require a conveyancing solicitor in Bedford who is on the Nationwide Building Society approved. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Nationwide Building Society in certain locations such as Bedford. We dont recommend any particular firm.
I opted to have a survey completed on a house in Bedford prior to appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some banks will not grant a loan on a flying freehold property.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. Should you wish to telephone us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Bedford. Conveyancing may be slightly more expensive based on your lender's requirements.
Given that I will soon spend hundreds of thousands of pounds on 3 bedroom house in Bedford I wish to have a conversation with the solicitor about myhouse move ahead of appointing the firm. Can this be arranged?
We could not agree more - it is our preference to talk to you we do not take any clients on without you liaising with the lawyer due to be conducting your conveyancing in Bedford.There is no ‘factory style conveyancing’ - each client is unique individual, not a matter number. The law firms that we put you in touch with believe that the fees you are provided with for residential conveyancing in Bedford should be the amount on the final invoice that you are charged.
I today plan to offer on a house that seems to be perfect, at a reasonable price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Bedford. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
Most houses in Bedford are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can help the conveyancing process. it is apparent that you are buying in Bedford in which case you should be shopping around for a Bedford conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your lawyer will appraise you on the various issues.
I am the registered owner of a leasehold flat in Bedford, conveyancing formalities finalised September 2005. How much will my lease extension cost? Equivalent properties in Bedford with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ceases on 21st October 2084
With just 59 years remaining on your lease the likely cost is going to range between £20,900 and £24,200 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.