My wife and I are approaching an exchange on a flat in Nottinghamshire and my mum and dad have sent the ten percent deposit to my conveyancing practitioner. I am now told that as the deposit has been received from someone other than me my conveyancing practitioner needs to make a notification to my mortgage company. I am advised that, 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 informed the lender concerning my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
The conveyancing practitioner is obliged to check with mortgage company to make sure 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 agree, failing which, your lawyer must cease to continue acting.
I am considering applying for a Barclays mortgage for purchase of a newly converted (under development) in Nottinghamshire with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Barclays ?
There is nothing to stop you using your solicitor, but Barclays will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Is it the case that all Nottinghamshire CQS (Conveyancing Quality Scheme) solicitors are on the Coventry BS conveyancing list of approved practices?
A selection of banks and building societies now use CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
We previously appointed conveyancers based in Nottinghamshire on the Barclays solicitor approved list. They have just invoiced me a supplemental sum for handling the Barclays mortgage. Is this an additional conveyancing fee set by Barclays?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your lawyer may levy a fee for this. This charge is not set by Barclays but by your Nottinghamshire property lawyer. Plenty of firms on the Barclays panel will charge an ‘acting for lender’ fee and others do not.
My offer was accepted on a property in Nottinghamshire on 3/1/2025, valuation was booked five days after, received a clean bill of health. Property lawyer appointed, so all that was missing was my mortgage offer. Having made daily calls to Skipton and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Skipton conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Skipton to deal with your lawyer's application to be on the Skipton conveyancing panel. There's no guarantee that your solicitor will be accepted.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one near me in Nottinghamshire I like with open areas and transport links in the vicinity, the downside is that it only has 51 years on the lease. I can't really find anything else in Nottinghamshire in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan that many years may be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
I'm remortgaging my current house to a buy to let mortgage with Platform Home Loans Ltd and intend to use the remaining equity towards another house. The area we are interested in is Nottinghamshire. Will your conveyancers be able to act for the two banks and tie in the conveyances?
Do use our comparison tool on this site to be sure that the lawyers are on the relevant lender panels. On the basis that they are the conveyancer will be able to connect the two transactions but you should talk with you lawyer and make apparent your expectations and requirements.
There are only Sixty One years left on my lease in Nottinghamshire. I now wish to extend my lease but my freeholder is absent. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to track down the lessor. In some cases a specialist should be useful to conduct investigations and prepare a report to be used as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the application to the County Court covering Nottinghamshire.
I purchased a 1st floor flat in Nottinghamshire, conveyancing was carried out June 2007. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Nottinghamshire with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 per annum. The lease comes to an end on 21st October 2085
With just 60 years unexpired the likely cost is going to range between £20,000 and £23,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.