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Find a Shefford Conveyancing Solictior on Your Lender’s Panel

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

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Recently asked questions about conveyancing in Shefford

About to place a bid on a leasehold property in Shefford. The property agents say that it is usual for flats in Shefford to have less than 75 years left on the lease. I am taking out a loan with Chelsea Building Society. Is this going to be a problem if the lease has Seventy One years remaining.

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 29/6/2022 the requirements read as follows :

85 years from the date of completion of the mortgage. Please ensure that you explain the implications of a short term lease to the borrower.

I have decided to exercise my right to buy my property in Shefford off the council. I have a mortgage agreed with HSBC. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?

It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.

I am selling my apartment. I had a double glazing fitted in November 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Coventry BS are being difficult. The Shefford solicitor who is on the Coventry BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Coventry BS are requiring a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?

It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.

Intending to buy a apartment in Shefford. 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 Principality 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 Shefford property lawyer is on the Principality conveyancing panel.

Are there restrictive covenants that are commonly identified as part of conveyancing in Shefford?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Shefford. 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…’

I am purchasing a new build house in Shefford with the aid of help to buy. The sellers would not reduce the price so I negotiated five thousand pounds worth of extras instead. The property agent advised me not reveal to my conveyancer about this extras as it will jeopardize my mortgage with the lender. Should I keep quiet?.

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.

I have just started marketing my basement flat in Shefford. Conveyancing is yet to be initiated, however I have recently had a yearly service charge invoice – what should I do?

It best that you clear the service charge as you normally would given that all ground rent and maintenance payments will be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents 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 bought a 1 bedroom flat in Shefford, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Shefford with an extended lease are worth £222,000. The ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2092

With just 70 years left to run the likely cost is going to span between £9,500 and £11,000 as well as professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.

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Neighbouring Locations

Biggleswade
Shefford
Arlesey
Henlow
Langford
Shillington

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