Am I correct in assuming that the fact that my solicitor in Bedford Park is not on my bank's conveyancing panel that there is a problem with the quality of his conveyancing?
That would most likely be an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Bedford Park conveyancing firm and enquire why they are no longer on the approved list for your bank.
How do I discover of the solicitor handling my conveyancing in Bedford Park is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for HSBC Bank thus spending £187.00 plus VAT in supplemental conveyancing costs.
Please do make use of the find a lender approved solicitor tool on this site. Pick the lender and type ‘Bedford Park’ or your location and you will be presented with numerous conveyancers located in Bedford Park or near you.
Forgive me if this question is silly but I am unexperienced as a 1st time buyer of a ground floor flat in Bedford Park. Do I pick up the keys to the premises on completion from my lawyer? If this is the case, I will instruct a local conveyancing solicitor in Bedford Park?
On the day of completion you do not need to go to the conveyancers office in Bedford Park. Conveyancing lawyers for you will arrange to send the completion advance to the vendor’s conveyancers, and once they have received this, you should be called to pick up the keys from the Estate Agents and start moving into the property. Usually this happens between 1 and 3pm.
I happen to be the single beneficiary of my late mum's will and I have everything in my name now, including the my former home in Bedford Park. The Bedford Park property was put into my name in June. I plan to dispose of the house. I understand that there is a Mortgage Lenders six month 'rule', which means that my property ownership could be treated the same way as if I'd bought the property in June. Do I have to wait 6 months to sell?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. Most lenders would take a pragmatic view as this provision is primarily there to identify the purchase and immediately sell or the flipping of properties.
Our offer on a property in Bedford Park has been agreed to, but there is a chain. The vendors have offered on somewhere, but it’s not been accepted yet, and are looking at other flats booked. I have selected a bricks and mortar conveyancing solicitor in Bedford Park. What do I do now? When should I get the mortgage application with Aldermore started?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of £1k, then survey, Bedford Park conveyancing search fees, etc). First, you must check that your lawyer is on the Aldermore conveyancing panel. Regarding the subsequent phase this very much dictated by the circumstances of your transaction, desire for this property and on the state of the market. During a hot market many home buyers would apply for the mortgage with Aldermore and arrange for the valuation and only if it comes back ok would they request their conveyancing practitioner to move forward with the conveyancing in Bedford Park.
The deeds to my property are lost. The solicitors who dealt with the conveyancing in Bedford Park 5 years ago are no longer around. Will I be able to sell the house?
As long as the title is registered the details of your ownership will be evidenced by HMLR under a Title Number. It is easy to execute a search at the Land Registry, locate your house and obtain current copies of the Registered Entries for a small fee. Where the property is Leasehold then the Land Registry will in most cases hold a file duplicate of the Registered Lease and again, a copy can be retrieved for twenty pounds.
I am looking for a flat up to £195,000 and identified one close by in Bedford Park I like with a park and transport links in the vicinity, however it's only got 49 remaining years left on the lease. There is not much else in Bedford Park suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a mortgage that many years will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.