My husband and I are only a couple days away from an exchange on a house in Henbury and my parents have sent the 10% deposit to my conveyancing practitioner. I am now advised that as the deposit has been received from someone other than me my property lawyer needs to make a notification to my mortgage company. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your lawyer is legally required to clarify with lender to ensure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
I am the registered owner of a freehold property in Henbury but nevertheless charged rent, why is this and what is this?
It is rare for properties in Henbury and has limited impact for conveyancing in Henbury 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 date back hundreds of years, but the Rent Charge Act 1977 barred the generation 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 is to be extinguished.
We're in Henbury, First time buyers purchasing with a mortgage (lender is Virgin Money , and our solicitor is on the Virgin Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Henbury?
There are two types of lawyers who can execute conveyancing in Henbury namely CLC regulated conveyancers or solicitors. The two can provide conveyancing services that you need to complete the sale or purchase of property. They are both required to carry out Henbury conveyancing on similar quality and guidelines so you can be sure that your conveyancing will be properly carried out and that all requisite steps will be correctly adhered to.
The formalities of my purchase has taken place for my property in Henbury. Conveyancing was satisfactory but I would like to complain about the lender. How do I make a complaint?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
My offer was accepted on an apartment in Henbury on 3/6/2025, valuation was booked 2 days later, all came back fine. Solicitor instructed, so all that was missing was my mortgage offer. Having made daily calls to Coventry BS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Coventry BS conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Coventry BS to deal with your lawyer's application to be on the Coventry BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have recentlybeen informed that Arc property Solicitors have been shut down. They carried out my conveyancing in Henbury for a purchase of a freehold house 18 months ago. How can I establish that the property is registered correctly in the name of the former proprietor?
The easiest method to see if the property is in your name, you can make 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 Henbury conveyancing specialists.
Do you have any top tips for leasehold conveyancing in Henbury with the purpose of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Henbury can be avoided if you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the buyers’ solicitors. If you hold a share in a the Management Company, you should make sure that you have the original share document. Arranging a re-issued share certificate can be a lengthy process and delays many a Henbury conveyancing deal. Where a new share is needed, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity. You believe that you know the number of years remaining on your lease but it would be advisable double-check by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. Many landlords or Management Companies in Henbury levy fees for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Henbury. A minority of Henbury leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
Henbury Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing
-
You should be aware if it is fewer than eighty years it will affect the salability of the flat. It is worth checking with your mortgage company that they are content with residual term of the lease. A short lease means that you will almost definitely need a lease extension at some point and you need to have some idea of what this would cost. Remember, in most cases you would be required to have been the owner of the premises for 24 months before you are entitled to exercise a lease extension. Who is in charge of the block? How much is the annual service fee and ground rent?