I am hoping to receive a mortgage offer from Halifax. I would like to enlist the help of a Licensed Conveyancer in Bexley. Does the Halifax Conveyancing panel exclude Licensed Conveyancers?
The Halifax conveyancing panel is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My partner and I are refinancing our penthouse in Bexley with Clydesdale. We have a son approaching twenty who lives at home. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this document specific to the Clydesdale conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Clydesdale conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Clydesdale. This is solely used to protect Clydesdale if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Clydesdale had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
About to place an offer on a leasehold apartment in Bexley. The estate agents say that it is the norm for flats in Bexley to have less than 75 years remaining. I am expecting a loan with Bank of Ireland. Is this going to be acceptable if the lease has 72 years to go.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 16/12/2024 the requirements read as follows :
What can a local search reveal regarding the property we're purchasing in Bexley?
Bexley conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search organisations such as Searches UK The local search plays a central part in most Bexley conveyancing purchase; that is if you wish to avoid any nasty surprises after you move into your new home. The search will provide information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Bexley is where the house is located. Is there any advice you can impart?
Flying freeholds in Bexley are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bexley you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bexley may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Myself and my husband have just had an offer accepted on a apartment and had an appointment on Friday with the Post Office for the mortgage. They have informed us that when it comes to appointing a conveyancing practitioner that if they are not on their approved panel of solicitors then we will be subject to an an extra fee of £250+. This is is due to the fact that they will then have to appoint a property lawyer to act for them in addition to the one we select for ourselves and we assume responsibility for their invoice. I have asked the Post Office to provide me with a list so I can seek estimates only from their approved solicitors but was told they dont have such a list to hand over. Is there a simple way of finding out who is on a lender panel?
You can enquire of the Post Office what their criteria for panel membership is for a solicitor.Then ask the conveyancing practitioner of your choice whether they fit that criteria and have they acted on mortgages for the Post Office historically. Where the answer to those is yes, then just clarify this with the Post Office. Alternatively please make use of our search facility and we should be able to locate a property lawyer in Bexley on the approved list for the Post Office.