We are approaching an exchange on a flat in Shefford and my mum and dad have sent the 10% deposit to my conveyancer. I am now told that as the deposit has been sent from someone other than me my conveyancer needs to disclose this to my mortgage company. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I advised the lender concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
The property lawyer is duty bound to clarify with lender to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your bank if you agree, failing which, your lawyer must cease to continue acting.
We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to use their panel lawyer as I would prefer to instruct a local conveyancing solicitor in Shefford?
Do check but the chances are that give you one of their panel lawyers should you accept the "fee-free" offer. Call the lender to see if they allow a monetary alternative. Some banks have previously offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor near Shefford.
I have paid off my mortgage with Coventry BS. I assume I don't need a Shefford conveyancing practitioner on the Coventry BS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Shefford. I have a mortgage offer with Lloyds. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
I currently have a mortgage with Clydesdale for my property in Shefford. Conveyancing was finalised a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Clydesdale?
Your original mortgage agreement with Clydesdale will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Clydesdale’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 Clydesdale directly. You need not do this via a Clydesdale conveyancing panel lawyer.
I opted to have a survey completed on a property in Shefford ahead of retaining lawyers. I have been advised that there is a flying freehold element to the property. My surveyor advised that some lenders will refuse to give a loan on such a property.
It depends who your proposed lender is. Santander has different requirements from Birmingham Midshires. Should you wish to telephone us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Shefford. Conveyancing will be smoother if you use a solicitor in Shefford especially if they are acquainted with such properties in Shefford.
My uncle has recommend that I use his conveyancing solicitors in Shefford. Should I choose my own conveyancer?
No doubt it’s preferable to choose a conveyancing lawyer is to have feedback from friends or family who have used the firm that you are considering.
My wife and I purchased a leasehold flat in Shefford. Conveyancing and Virgin Money mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Shefford who acted for me is not around. Any advice?
First contact the Land Registry to be sure that this person is indeed the new freeholder. You do not need to instruct a Shefford conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I bought a garden flat in Shefford, conveyancing was carried out in 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Shefford with over 90 years remaining are worth £202,000. The ground rent is £60 per annum. The lease finishes on 21st October 2080
With 56 years remaining on your lease the likely cost is going to span between £29,500 and £34,000 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.