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Find a Eaton Bray Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Eaton Bray? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Eaton Bray conveyancing at risk of delay or failure.

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Recently asked questions about conveyancing in Eaton Bray

My bid for a property was accepted at auction in Eaton Bray. Conveyancing is necessary. What are my next steps?

Now that you are legally bound yourself to purchase you must find a conveyancing solicitor soon as you are faced with a fast approaching deadline in which to complete the property. An auction property will ordinarily have an associated auction set of papers. This will likely include evidence of title and search results. Where you are dealing with leasehold property the auction papers should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to a leasehold property. You should pass this on to the lawyer instructed by you ASAP. Do make sure that that you have the requisite funding in order to complete on the date specified in the contract.

I have a mortgage with Clydesdale for my property in Eaton Bray. Conveyancing has been completed 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Clydesdale?

Your original mortgage agreement with Clydesdale will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Clydesdale’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Clydesdale directly. It should not be necessary to do this via a Clydesdale conveyancing panel solicitor.

I can not work out if my bank requires a lease extension. I have called into my local Eaton Bray building society branch on various occasions and was advised it wasn't a problem and they would lend. My Eaton Bray conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend in accordance with their published requirements. Who do I believe?

Your conveyancer has to comply with the Council of Mortgage Lenders’ Handbook section two provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender 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 bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

Are there restrictive covenants that are commonly picked up during conveyancing in Eaton Bray?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Eaton Bray. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

Due to the guidance of my in-laws I had a survey completed on a property in Eaton Bray before retaining solicitors. I have been informed that there is a flying freehold element to the property. My surveyor advised that some banks tend refuse to give a loan on a flying freehold premises.

It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. Should you wish to call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Eaton Bray. Conveyancing may be slightly more expensive based on your lender's requirements.

We're new on the property ladder - agreed a price, but the selling agent informed us that the owners will only move forward if we use the agent's preferred lawyers as they want a ‘quick sale’. Our preferred option is to instruct a family conveyancer who is familiar with conveyancing in Eaton Bray

We suspect that the seller is not behind this demand. Should the owner require ‘a quick sale', taking such a hostile approach to a genuine buyer is going to damage their objectives. Speak to the owners direct and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you will continue to instruct your own,trusted Eaton Bray conveyancing lawyers - not the ones that will provide their estate agent a kickback or meet his conveyancing thresholds demanded by HQ.

I have just appointed agents to market my ground floor apartment in Eaton Bray. Conveyancing lawyers have not yet been instructed, however I have just received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear the service charge as usual because all rents and maintenance invoices will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I own a 2 bed flat in Eaton Bray, conveyancing formalities finalised 7 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Eaton Bray with an extended lease are worth £179,000. The average or mid-range amount of ground rent is £65 per annum. The lease comes to an end on 21st October 2081

With 57 years left to run we estimate the price of your lease extension to span between £26,600 and £30,800 plus costs.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.

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