My wife and I are only a couple days away from an exchange on a flat in Biggleswade and my parents have transferred the 10% deposit to my conveyancer. I am now told that as the deposit has been received from someone other than me my conveyancing practitioner needs to make a notification to my mortgage company. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the bank concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
The solicitor is duty bound to clarify with lender to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
is it true that all Biggleswade solicitors on the UBS conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the UBS approved list of solicitors they would need to be overseen by the SRA. The majority of mortgage companies do list licenced conveyancers on their panel and in that case the firms would be regulated by the CLC.
My partner and I have arranged a further advance on our mortgage from HSBC as we want to carry out improvements to our property in Biggleswade. Do we need to appoint a local Biggleswade solicitor on the HSBC conveyancing panel to deal with the legals?
HSBC would not normally instruct firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC list.
It is not clear whether my bank requires a lease extension. I have telephoned my Biggleswade bank branch on a couple of occasions and was informed it wasn't a problem and they would lend. My Biggleswade conveyancing solicitor - who is on the lender conveyancing panel- called to say that they will not lend in accordance with their published requirements. Who do I believe?
The solicitor has to comply with the CML Handbook section two conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
A colleague advised me that if I am buying in Biggleswade I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally included in the estimate for your Biggleswade conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Biggleswade around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Biggleswade Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Biggleswade Education with maps and statistics, Local Amenities and other useful information concerning Biggleswade.
I used Wolstenholmes several years ago for my conveyancing in Biggleswade. I now require my file however the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Biggleswade of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
My partner has recommend that I instruct his conveyancing solicitors in Biggleswade. Should I choose my own property lawyer?
No doubt the best way to choose a conveyancing practitioner is to get referrals from friends or relatives who have actually used the conveyancer you're considering.
Having had my offer accepted I require leasehold conveyancing in Biggleswade. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Biggleswade - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I acquired a basement flat in Biggleswade, conveyancing formalities finalised in 1995. How much will my lease extension cost? Corresponding properties in Biggleswade with over 90 years remaining are worth £201,000. The ground rent is £45 levied per year. The lease ends on 21st October 2090
With just 64 years remaining on your lease we estimate the premium for your lease extension to be between £15,200 and £17,600 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.