My husband and I are approaching an exchange on a house in Newent and my parents have sent the exchange deposit to my conveyancer. I am now informed that as the deposit has not come from me my lawyer needs to make a notification to my bank. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the lender regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The lawyer is duty bound to check with the bank to make sure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Can you explain why leasehold purchase conveyancing in Newent is more expensive?
Newent leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Newent. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 30/8/2025, the requirements read as follows :
My husband and I are first time buyers - agreed a price, yet the property agent advised that the owners will only go ahead if we appoint the agent's preferred conveyancers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a family solicitor used to conveyancing in Newent
It is unlikely the vendors are behind this. If they desire ‘a quick sale', taking such a hostile approach to a genuine purchaser is likely to cause more damage than good. Contact the owners directly and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you will continue to use your own,trusted Newent conveyancing solicitors - as opposed tothose that will earn the negotiator at the agency a introducer fee or hit his conveyancing thresholds demanded by HQ.
I work for a long established estate agent office in Newent where we have witnessed a number of leasehold sales jeopardised due to short leases. I have been given contradictory information from local Newent conveyancing solicitors. Could you clarify whether the owner of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Newent Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing
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What is the name of the managing agents? The prefered form of lease structure is if the freehold title is owned by the leaseholders. In this situation the lessees benefit from control and notwithstanding that a managing agent is often retained where it is larger than a house conversion, the managing agent is directed by the tenants. Is there a share of the freehold?
I am purchasing a property and need a conveyancing solicitor in Newent who is on the bank approved panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the bank who conduct conveyancing in Newent. We dont recommend any particular firm.