We are a couple about to exchange contracts for a leasehold flat in Bishops Lydeard. We encountered a stumbling block. Our loan offer with Birmingham Midshires runs out on 14/7/2025 but the owners are putting forward a completion date of 16/7/2025. Can one extend the mortgage offer?
The best person to address this issue is your lawyer who will hopefully assess whether he or she is corresponding with the mortgage broker, seller’s conveyancers, selling agents or conceivably all parties given the history of your transaction as of today.
I own a freehold premises in Bishops Lydeard but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Bishops Lydeard and has limited impact for conveyancing in Bishops Lydeard but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
My mortgage company has recommended solicitors on their panel based in Bishops Lydeard but I would rather instruct a conveyancing lawyer in Bishops Lydeard or nearer to where I live. Can you assist?
Far from all Bishops Lydeard conveyancing practitioners are on all banks conveyancing panel. Use the above search tool to identify a Bishops Lydeard conveyancing conveyancer on the on the mortgage company panel.
Is it correct that all Bishops Lydeard CQS (Conveyancing Quality Scheme) solicitors are on the Kent Reliance conveyancing panel?
Some major lenders now use CQS as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of conveyancing solicitors.
I am purchasing a property in Bishops Lydeard. A rare aspect is that the roof has a solar panel. Leeds Building Society 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 Leeds Building Society your lawyer must comply with the formal instructions set out in Section 2 of UK Finance Lenders’ Handbook for Leeds Building Society. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and lawyers are required to report to Leeds Building Society where a lease does not comply with these conditions. The conditions relate to the installation of panels on properties countrywide and is not limited to Bishops Lydeard.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Bishops Lydeard building society branch on various occasions and was advised it wasn't an issue and they will lend. My Bishops Lydeard conveyancing solicitor - who is on the lender conveyancing panel- called to say that they will not lend in accordance with their specific requirements. Who do I believe?
Your solicitor has to follow the Council of Mortgage Lenders’ Handbook Part 2 specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Should our conveyancer be asking questions about flooding during the conveyancing in Bishops Lydeard.
The risk of flooding is if increasing concern for solicitors dealing with homes in Bishops Lydeard. There are those who purchase a property in Bishops Lydeard, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to offer advice on flood risk, but there are a number of checks that can be initiated by the buyer or on a buyer’s behalf which can figure out the risks in Bishops Lydeard. The conventional set of property information forms sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the vendor to determine whether the property has historically flooded. If flooding has previously occurred and is not notified by the vendor, then a buyer could commence a compensation claim as a result of such an misleading reply. A buyer’s conveyancers should also conduct an enviro search. This should reveal if there is any known flood risk. If so, further inquiries should be conducted.
I have recentlydiscovered that Wolstenholmes have been shut down. They carried out my conveyancing in Bishops Lydeard for a purchase of a freehold house 18 months ago. How can I check that my home is not still registered in the name of the previous owner?
The quickest method to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bishops Lydeard conveyancing specialists.