My husband and I are hoping to buy a home in Tibshelf and have instructed a Tibshelf conveyancing practice. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. The Mortgage Works have this evening contacted us to inform me that there is now an issue as our Tibshelf solicitor is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is usual for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Tibshelf solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
We are acquiring our first home. Our lawyer has calledto check if we wish to order extra conveyancing searches. We are really unsure what's recommended for conveyancing in Tibshelf
The extent of Tibshelf conveyancing searches should be dictated entirely on the premises, the location, the likelihood of any of these risks, your familiarity of the locality and risks, your general approach to risk. What matters is that you properly comprehend what information each search could give you. Then you can make a decision if you consider that you need that information. If uncertain, ask your lawyer to recommend.
I am about to put a bid on a leasehold flat in Tibshelf. The selling agents advise that it is normal for flats in Tibshelf to have less than 75 years remaining. I am obtaining a loan with Accord Mortgages. Is this going to be acceptable if the lease has 72 years to go.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 5/5/2025 the requirements read as follows :
Are there restrictive covenants that are commonly identified during conveyancing in Tibshelf?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Tibshelf. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am looking for a leasehold apartment up to £235,500 and found one round the corner in Tibshelf I like with open areas and transport links nearby, however it only has 49 remaining years left on the lease. There is not much else in Tibshelf for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
What does commercial conveyancing in Tibshelf cover?
Commercial conveyancing in Tibshelf covers a wide range of services, provided by regulated 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 business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.