My fiance and I are planning to purchase a house in Ashby de la Zouch and have instructed a Ashby de la Zouch conveyancing practice. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Bank of Scotland have this evening contacted us to inform me that they have now hit a problem as our Ashby de la Zouch lawyer is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is normal for the purchasers' lawyers to also represent the mortgage company. 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 Accreditation Scheme. Your solicitor 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 solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Ashby de la Zouch lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
What does my ID and proof of funds have anything to do with my conveyancing in Ashby de la Zouch? Why is this being asked of me?
It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Ashby de la Zouch. However these days you will not be able to proceed with any conveyancing transaction without first supplying proof of your identity. This usually takes the form of a either your passport or driving licence and a bank statement. Please note that if you are supplying your driving licence as proof of identification it needs to be both the paper section and photo card part, one is not acceptable without the other.
Verification of your origin of funds is required in accordance with the Money Laundering Regulations. Please do not be offended when when this is requested of you as your lawyer will need to have this information on record. Your Ashby de la Zouch conveyancing practitioner will require evidence of proof of funds prior to accepting any funds from you into their client account and they will also ask additional questions concerning the origin of funds.
I am planning to acquire a flat and require a conveyancing solicitor in Ashby de la Zouch who is on the Barclays Direct conveyancing. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Barclays Direct in certain locations such as Ashby de la Zouch. We dont recommend any particular firm.
My wife and I are spending time looking at apartments in Ashby de la Zouch and I am about to put in an offer. Is it too early to have a solicitor in place? I intend to finance via a home loan with Bank of Ireland.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. As you are seeking a mortgage with Bank of Ireland, ask your prospective lawyers if they are on the Bank of Ireland conveyancing panel otherwise they can't do the mortgage legal work.
I was told four weeks ago that my mortgage has been agreed to by Yorkshire BS. Is it usual for Yorkshire BS to only issue the offer once my solicitor in Ashby de la Zouch is approved on their conveyancing panel? Yorkshire BS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Yorkshire BS to deal with your lawyer's application to be on the Yorkshire BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have instructed a Ashby de la Zouch property lawyer having checked that they are on the Principality conveyancing panel. Does my lawyer arrange the survey of the property?
Principality will need an independent valuation of the property. Your lawyer will not arrange this. Usually Principality will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Ashby de la Zouch postcode. As you are getting a mortgage with Principality, you could contact them to see if they have a list of approved surveyors in Ashby de la Zouch.
I am looking for a ground for flat up to £305k and identified one round the corner in Ashby de la Zouch I like with a park and transport links nearby, the downside is that it only has 61 years on the lease. I can't really find anything else in Ashby de la Zouch in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you require a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
How does the Landlord & Tenant Act 1954 affect my commercial property in Ashby de la Zouch and how can you help?
The particular law that you refer to provides security of tenure to business tenants, granting the a statutory right to make a request to court for a continuation of occupancy when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and handle your commercial conveyancing in Ashby de la Zouch