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Find a Yardley Conveyancing Solictior on Your Lender’s Panel

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

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Recently asked questions about conveyancing in Yardley

I own a freehold residence in Yardley but still invoiced for rent, why is this and what is this?

It is rare for properties in Yardley and has limited impact for conveyancing in Yardley 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.

Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.

We are selling our flat in Yardley. Will my property lawyer have to be required to be on the Nottingham conveyancing panel in order to deal with repayment of my mortgage?

Ordinarily, even if your lawyer is not on the Nottingham conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.

We are due to move property in September. Does my conveyancing solicitor communicate with the removal company on the completion day. On a separate note, can you recommend a removal company in Yardley. Conveyancing firm was found prior to coming across your page.

On the afternoon of completion you will need to pick up the house keys from the estate agent however this can only occur once the sellers lawyers advise the agent that they have the completion monies and the keys can be released. Subsequently you can inform the removal company that they can start moving you in. We are not in a position to suggest a specific removal organisation but can assist you in locating a residential property solicitor in Yardley or a firm that specialises in conveyancing in Yardley.

We are getting the release of further funds on our mortgage from UBS as we want to carry out alterations to our house in Yardley. Do we need to appoint a local Yardley solicitor on the UBS conveyancing panel to deal with the paperwork?

UBS do not ordinarily instruct firms on their approved list of lawyers 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 UBS panel.

The mortgage over my property is with Bank of Ireland for my property in Yardley. Conveyancing was finalised some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Bank of Ireland?

You must advise Bank of Ireland before renting your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. In many cases banks or building societies will allow you to rent 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 Bank of Ireland directly. It should not be necessary to do this via a Bank of Ireland conveyancing panel solicitor.

How does conveyancing in Yardley differ for newly converted properties?

Most buyers of new build property in Yardley come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is completed. This is because new home sellers in Yardley usually purchase the site, 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 conveyancers 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 accustomed to new build conveyancing in Yardley or who has acted in the same development.

My husband and I are novice buyers - had an offer accepted, yet the selling agent told us that the owners will only proceed if we use the agent's preferred solicitors as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a family conveyancer used to conveyancing in Yardley

We suspect that the owner is not behind this request. Should the owner desire ‘a quick sale', turning down a serious buyer is is going to put the whole deal at risk. Speak to the vendors direct and explain that (a)you are serious buyers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you are going to appoint your own,trusted Yardley conveyancing solicitors - not the ones that will give their estate agent a referral fee or hit his conveyancing thresholds demanded by senior management.

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