Me and my fiance are buying a leasehold flat in Hoddesdon. My lawyer is not on the bank conveyancing panel. Am I still permitted to use my Hoddesdon conveyancing solicitor even though they are not on the mortgage company panel of approved conveyancing solicitors?
One must appoint a conveyancing practitioner to deal with the formalities when you take out a mortgage to buy your home. They will conduct all the necessary due diligence on the property, make sure that you’re properly registered as the owner and ensure that all the required mortgage paperwork is dealt with. You could instruct a Hoddesdon conveyancer of your choice. However, where the solicitor appointed is not a member of the mortgage company solicitor panel additional costs will be levied as separate legal representation will be required by them. Lender panel applications may be submitted, so if your solicitor has not in the past applied for membership they can do so.
Are the Hoddesdon conveyancing solicitors identified as being on the Principality conveyancing panel, together with their details provided by Principality?
Hoddesdon conveyancing firms themselves provide us confirmation that they are on the Principality conveyancing panel as opposed to being supplied with a list from Principality directly.
About to place a bid on a leasehold property in Hoddesdon. The property agents advise that it is usual for flats in Hoddesdon to have less than 75 years remaining. I am taking out a loan with Bank of Ireland. Will the property be mortgageable given that the lease has Seventy One years remaining.
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. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 20/4/2025 the requirements read as follows :
A colleague pointed out to me me that in purchasing a property in Hoddesdon there may be various restrictions limiting what one can do in terms of external alterations to the property. Is this right?
We are aware of anumerous of properties in Hoddesdon which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Hoddesdon should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to mortgage companies such as Virgin Money, do Hoddesdon solicitors have to pay a yearly amount to be on the conveyancing panel?
We are unaware of any mortgage company fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I currently have a mortgage with Coventry BS for my property in Hoddesdon. Conveyancing was finalised 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Coventry BS?
Your original mortgage agreement with Coventry BS will provide that you need their approval prior to letting out your property as this is likely to be a breach of Coventry BS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. It should not be necessary to do this via a Coventry BS conveyancing panel lawyer.
I opted to have a survey done on a property in Hoddesdon before instructing lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor has said that some banks will refuse to issue a loan on a flying freehold house.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hoddesdon. Conveyancing may be slightly more expensive based on your lender's requirements.
Am I best advised to choose a Hoddesdon conveyancing lawyer who is local to the property I am buying? An old friend can carry out the conveyancing but his firm is located 200miles away.
The benefit of a high street Hoddesdon conveyancing practice is that you can visit the firm to sign paperwork, present your ID and apply pressure on them where appropriate. Having local Hoddesdon know how is a plus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and the majority were impressed that must outweigh using an unfamiliar Hoddesdon conveyancing lawyer solely due to them being based in the area.