I am approaching an exchange on a property in Caddington and my mum and dad have sent the ten percent deposit to my conveyancing practitioner. I am now advised that as the deposit has not arrived from me my conveyancing practitioner needs to disclose this to my lender. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the lender concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?

Your lawyer is duty bound to clarify with the bank 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 bank if you agree, failing which, your lawyer must cease to continue acting.

How do I investigate if the solicitor carrying out my conveyancing in Caddington is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for HSBC Bank thus paying £175.00 in supplemental legal costs.

Feel free to make use of the search tool on this web page. Please choose the lender and type ‘Caddington’ or your preferred area and you will be presented with numerous conveyancers located in Caddington or near you.

My wife and I have a semi-detached Georgian property in Caddington. Conveyancing practitioner represented me and HSBC Bank. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold under the matching property. Is it worth asking HSBC Bank to clarify?

You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Caddington and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with your conveyancing lawyer who conducted the work.

I opted to have a survey completed on a property in Caddington prior to retaining lawyers. I have been advised that there is a flying freehold overhang to the house. My surveyor has said that some banks will refuse to issue a loan on a flying freehold home.

It varies from the lender to lender. Lloyds has different instructions from Nationwide. If you e-mail us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Caddington. Conveyancing may be slightly more expensive based on your lender's requirements.

I would like to sublet my leasehold flat in Caddington. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

A lease dictates relations between the freeholder and you the leaseholder; in particular, it will set out if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Caddington do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

Leasehold Conveyancing in Caddington - Sample of Queries Prior to buying

Plenty Caddington leasehold apartments will incur a service bill for the upkeep of the block levied by the management company. Where you buy the flat you will have to meet this liability, normally periodically accross the year. This could be anything from a couple of hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent to be met annual, this is usually not a large amount, say about £25-£75 but you should to enquire as sometimes it can be surprisingly expensive. It is important to be aware if fixing the lift or some other major work is due shortly to be shared by the leaseholders and may well dramatically increase the the maintenance charges or result in a specific payment. If a Caddington lease has no more than eighty years it will affect the marketability of the apartment. Check with your bank that they are content with remaining years on the lease. Leases with less than 80 years remaining means that you will probably require a lease extension sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you will be be obliged to have owned the residence for a couple of years before you are eligible to exercise a lease extension.