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Recently asked questions about conveyancing in Bedford

I am the registered owner of a freehold premises in Bedford yet invoiced for rent, why is this and what is this?

It is rare for properties in Bedford and has limited impact for conveyancing in Bedford but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.

Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.

Do commercial conveyancing searches reveal impending roadworks that may affect a commercial site in Bedford?

Its becoming the norm that commercial conveyancing solicitors in Bedford will order a SiteSolutions Highways report as it reduces the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Bedford. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Bedford.

For each commercial conveyancing transaction in Bedford it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may cause delays to Bedford commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Bedford.

My wife and I have a renovated Georgian property in Bedford. Conveyancing solicitor acted for me and Clydesdale. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold with the matching property. Is it worth asking Clydesdale to clarify?

You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bedford and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with your conveyancing lawyer who carried out the work.

I am purchasing my first flat in Bedford with a loan from The Royal Bank of Scotland. The builders would not budge the price so I negotiated 6k of additionals instead. The property agent told me not inform my conveyancer about the side-deal as it would jeopardize my mortgage with the lender. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what should have been a simple, chain free conveyancing. Bedford is where the house is located. Is there any guidance you can give?

Flying freeholds in Bedford are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bedford you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bedford may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.

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Find out more about how flying freehold can affect your the value of a property.