I am nearing exchange of contracts for my home in Chard and the estate agent has just telephoned to advise that the purchasers are switching solicitor. The excuse is that the mortgage company will only work with property lawyers on their approved list. Why would a major mortgage company only work with certain law firms rather the firm that they want to appoint to handle their conveyancing in Chard ?
Lenders have always had panels of law firms that can represent them, but in the last few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any sway in the decision.
I have 70 years unexpired on my lease and need a lease extension for my flat in Chard. Conveyancing solicitors on the Virgin panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 28/10/2026 the requirements read as follows :
I happen to be the single beneficiary of my late father’s will with all property in now in my sole name, including the house in Chard. Conveyancing formalities meant that the Land Registry date was in September. I want to move. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership will be considered the same way as though I had purchased the property in September. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. How practical a view lenders take of it, depend on the lender as this obligation is chiefly there to identify the purchase and immediately sell or the flipping of properties.
We previously instructed conveyancing lawyers with offices in Chard on the Lloyds solicitor approved list. They have just billed me a further amount for handling the Lloyds mortgage. Is this an additional conveyancing fee set by Lloyds?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your property lawyer may charge a fee for this. The fee is not set by Lloyds but by your Chard lawyer. Numerous firms on the Lloyds panel will quote ’dealing with mortgage’ fee and others do not.
UBS have agreed my mortgage in principle, my offer on a flat in Chard has been accepted, what are the next steps?
Your estate agent will want to know who your solicitors are (ensure that the solicitors are on the bank’s approved list). Contact UBS or your financial adviser and finalise any outstanding paperwork. UBS will sellect a valuer who will get in contact with the selling agent or vendor to schedule a slot for the valuation to take place. Once conducted (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. UBS will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Chard.
I am close to exchanging contracts on the sale of our house in Chard and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any local conveyancer would know that there is no such problem. It does beg the question why the buyers used a national conveyancing firm rather than a conveyancing solicitor in Chard. Having lived in Chard for six years we know that this is a non issue. Do we contact our local Authority to seek confirmation that there is no issue.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Am I right to be suspicious by estate agents that I am dealing with are encouraging me to use an internet conveyancing firm rather than a local Chard conveyancing practice?
As with lots of professional services, often input from family and friends can be most helpful. Yet there are lots of people with a vested interest in a conveyancing matter; estate agents, mortgage brokers and lenders may suggest lawyers to use. Sometimes the conveyancers might be known to one of the organisations as experts in their field, but sometimes there may be a commercial relationship behind the recommendation. You have the discretion to appoint your preferred conveyancer. You need to be aware that some lenders specify a panel list of lawyers you must use for the lender aspect of your house move.
I am tempted by the attractive purchase price for a couple of flats in Chard which have in the region of 50 years left on the lease term. should I be concerned?
There is no doubt about it. A leasehold flat in Chard is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of purchasers and lenders, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Chard conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I bought a studio flat in Chard, conveyancing having been completed 10 years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Chard with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 levied per year. The lease comes to an end on 21st October 2084
With 58 years left to run the likely cost is going to range between £22,800 and £26,400 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 cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.