What is the first thing I need to know regarding purchase conveyancing in Audley?
Not many law firms shout this from the rooftops but conveyancing in Audley or throughout Staffordshire is an adversarial process. Put another way, when it comes to conveyancing there exists an abundance of room for friction between you and others involved in the transaction. For instance, the vendor, selling agent and on occasion a mortgage company. Selecting a law firm for your conveyancing in Audley is a critical decision as your conveyancer is your adviser, and is the SOLE person in the legal process whose responsibility is to act in your legal interests and to keep you safe.
There is a definite ongoing adversarial element to conveyancing- someone has to be at fault for the process being so protracted. You should always trust your solicitor above the other parties when it comes to the legal transfer of property.
This question may be naive but I am unseasoned as a first time buyer of a ground floor flat in Audley. Do I pick up the keys to the house on completion from my solicitor? If so, I will appoint a High Street conveyancing solicitor in Audley?
On the day of completion you will not be required to go to the conveyancers office in Audley. Conveyancing lawyers for you will transfer the completion advance to the vendor’s conveyancers, and shortly after the monies have arrived, you will be able to collect the keys from the property Agents and move into your new home. This tends to happen early afternoon.
Is it the case that all Audley solicitor firms on the Nottingham conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Nottingham approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. The majority of mortgage companies do allow licenced conveyancers on their panel and in that case the practice would be governed by the Council of Licensed Conveyancers.
We previously appointed conveyancing lawyers located in Audley on the Virgin Money solicitor approved list. They have just invoiced me a separate sum for handling the Virgin Money mortgage. Is this a supplemental conveyancing fee specified by Virgin Money?
Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your conveyancer is entitled to levy a fee for this. The charge is not dictated by Virgin Money but by your Audley lawyer. Some firms on the Virgin Money panel will charge an ‘acting for lender’ fee but plenty of practices incorporate it on their overall fee.
Despite weeks of looking the Title Certificate and documents to our house can not be found. The conveyancers who dealt with the conveyancing in Audley 4 years ago no longer exist. Will I be able to sell the house?
In today’s world there are duplicates made of almost everything, and your lawyer should be aware precisely where to find all the relevant paperwork so you can purchase or sell your property without any difficulty. If copies can’t be located, your solicitor can arrange cover in the form of insurance or indemnities against possible claims on your property.
I am purchasing my first flat in Audley with a mortgage from Clydesdale. The developers would not budge the price so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not disclose to my conveyancer about the deal as it would adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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 own a leasehold flat in Audley. Conveyancing and The Royal Bank of Scotland mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Audley who previously acted has long since retired. Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Audley conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I invested in buying a basement flat in Audley, conveyancing formalities finalised January 2008. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Audley with an extended lease are worth £227,000. The ground rent is £50 levied per year. The lease finishes on 21st October 2096
With only 72 years unexpired we estimate the price of your lease extension to span between £9,500 and £11,000 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.
What is the reason for my property lawyer requiring a list of items of ID ahead of starting my conveyancing in Audley?
Audley property lawyers are duty bound by the Law Society, SRA, the Land Registry and current Money Laundering Regulations to record that the have verified the identity of their clients. It is also sometimes a condition of your mortgage offer. Furthermore they have to complete various forms, particularly those relating to SDLT and need to have details such as your full names, NI number and date of birth.