We are approaching an exchange on a property in Gravesend and my mum and dad have sent the 10% deposit to my conveyancing practitioner. I am now informed 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 mortgage company regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The conveyancing practitioner is obliged to check with mortgage company to make sure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
I have 70 years remaining on my lease and need a lease extension for my apartment in Gravesend. Conveyancing solicitors on the Virgin panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 2/2/2026 the requirements read as follows :
How does conveyancing in Gravesend differ for newly converted properties?
Most buyers of new build property in Gravesend come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is completed. This is because developers in Gravesend typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Gravesend or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £305k and identified one close by in Gravesend I like with a park and railway links in the vicinity, however it's only got 49 remaining years left on the lease. There is not much else in Gravesend for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a mortgage that many years will likely be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you may request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
My step-son is about to join the property ladder, the home loan was agreed last week in principle. After the seller agreed the offer on the house we called the bank to issue the formal offer. I was shocked to discover that mortgage lenders do not accept all lawyer, they need to be on their approved list, is this right?
Mortgage Companies normally imposes restrictions either the type or the number of conveyancing firms on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Gravesend property lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.