Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Bedford. My lender is Platform

Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 24/9/2024, the requirements read as follows :

We are getting a further advance on our mortgage from Clydesdale as we want to carry out renovations to our home in Bedford. Do we need to appoint a high street Bedford solicitor on the Clydesdale conveyancing panel to handle the legals?

Clydesdale do not ordinarily instruct firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Clydesdale list.

It is not clear whether my lender requires a lease extension. I have called into my local Bedford bank branch on numerous occasions and was told it wasn't a problem and they will lend. My Bedford conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend based on their specific requirements. I have no idea who is right.

Provided that the solicitor is on the lender panel, she or he must follow the CML Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

Planning on purchasing a maisonette in Bedford. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.

They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Bedford solicitor is on the Coventry BS conveyancing panel.

How does conveyancing in Bedford differ for new build properties?

Most buyers of new build residence in Bedford contact us having been asked by the seller to sign contracts and commit to the purchase even before the premises is constructed. This is because house builders in Bedford typically purchase the real estate, 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 property lawyers 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 Bedford or who has acted in the same development.

I have been advised by numerous selling agents in Bedford to choose a conveyancer on your site. Is there a financial inducement for Estate Agents to promote your services ahead of a competitor’s?

We don’t make any commission for sending work to this site. We found it would be just too difficult to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.

Planning to exchange soon on a ground floor flat in Bedford. Conveyancing solicitors inform me that they report fully within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Bedford should include some of the following:

You should have a good understanding of the building insurance requirements Alterations to the premises Are you allowed to have a pet in the flat? You need to be told what is to be regarded as a Nuisance as far as the lease is concerned Whether the lease restricts you from letting out the flat, or having a home office for business

Bedford Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing

You should want to find out as much as you can concerning the company managing the building as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to daily matters such as the upkeep of the communal areas. You should not be shy to ask prospective neighbours what they think of them. In conclusion, investigate as to the dates that you are obliged pay the maintenance charge to the relevant party and specifically what you get for your money. Are there any major works anticipated that will add a premium to the service costs? Where a Bedford lease has no more than eighty years it will affect the value of the flat. It is worth checking with your bank that they are content with remaining years on the lease. Leases with less than 80 years remaining means that you will most likely have to extend the lease at some point and it is worth finding out how much this will be. Remember, in most cases you would need to own the residence for two years before you are legally able to exercise a lease extension.