My wife and I are nearing an exchange on a flat in Lyme Regis and my parents have transferred the ten percent deposit to my property lawyer. I am now informed that as the deposit has not arrived from me my conveyancing practitioner needs to disclose this to my lender. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I disclosed to the lender regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
Your conveyancer is legally required to clarify with lender to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
I have just over seventy years remaining on my lease and require a lease extension for my apartment in Lyme Regis. Conveyancing solicitors on the The Mortgage Works panel can deal with such extensions correct?
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. The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 14/8/2026 the requirements read as follows :
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one close by in Lyme Regis I like with amenity areas and railway links in the vicinity, however it only has 49 years unexpired on the lease. There is not much else in Lyme Regis for this price, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the remaining unexpired lease term may be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
What does commercial conveyancing in Lyme Regis cover?
Lyme Regis conveyancing for business premises incorporates a wide array of advice, given by qualified solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
Should I instruct a Lyme Regis conveyancing practitioner in close proximity to the house I am purchasing? We have a good friend who can carry out the legal work but his firm is located 400kilometers away.
The primary upside of using a high street Lyme Regis conveyancing practice is that you can pop in to sign paperwork, hand in your ID and pester them if necessary. Having local Lyme Regis know how is a plus. However nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and in the main were impressed that should surpass using an unknown Lyme Regis conveyancing lawyer solely due to them being based in the area.
Me and my partner have recently had an offer accepted on a property and had an appointment on Wednesday with HSBC for the mortgage. They warned me that when it comes to selecting a solicitor that unless they are on their approved panel of property lawyers then we will incur an extra charge of £250+. This is is due to the fact that they would then have to instruct a property lawyer to act for them in addition to the one we choose to act on our behalf and we assume responsibility for their fees. I have requested HSBC to provide me with a list so I can request quotes only from their approved solicitors but was told they dont have such a list to hand over. What would be the best way of going about this?
You can enquire of HSBC what their panel criteria is for a solicitor.Then ask the conveyancing practitioner of your choice whether they meet the criteria and have they acted on mortgages for HSBC in the past. Where the answer to those is yes, then just clarify this with HSBC. Alternatively please use our search tool and we may be able to locate a conveyancing practitioner in Lyme Regis on the panel for HSBC.