My fiance and I are looking to purchase a home in Underwood and are in fact using a Underwood conveyancing firm. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Norwich and Peterborough Building Society have this morning contacted us to advise us that there is now an issue as our Underwood conveyancer is not on their conveyancing panel. What do we do from here?

When purchasing a property with the benefit of a mortgage it is normal for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Underwood solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.

I am getting closer to an exchange on a flat in Underwood and my parents have transferred the 10% deposit to my conveyancer. I am now advised that as the deposit has been received from someone other than me my lawyer needs to disclose this to my bank. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to hold matters up?

The property lawyer is duty bound to clarify with the bank to make sure that they understand 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.

Can you explain why leasehold purchase conveyancing in Underwood costs more?

Underwood leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.

We just had an offer accepted to purchase with Earl Shilton BS. We have called around locally but cant to find a Underwood conveyancing firm on the Earl Shilton BS approved list. Could you assist?

You should take advantage of the find a lender approved solicitor tool on this web page. Pick the building society and type Underwood or your location and you will be presented with numerous solicitors based in Underwood or near you.

Back In 2004, I bought a leasehold house in Underwood. Conveyancing and Bank of Ireland mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Underwood who previously acted has long since retired. Do I pay?

First contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Underwood conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Underwood Leasehold Conveyancing - Examples of Queries Prior to buying

Its a good idea to discover as much as you can regarding the company managing the block as they will affect your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to practical matters like the tidiness of the communal areas. Ask other people if they are happy with them. On a final note, be sure you understand the dates that the maintenance charges are due to the managing agents and precisely what you get for your money. Does the lease include onerous restrictions? How long is the Lease?