Our Billingham conveyancer has spotted a difference between the information in the home valuation survey and what is revealed within the conveyancing documents. My lawyer informs me that he must check that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s stance legitimate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
What does my ID and proof of funds have anything to do with my conveyancing in Billingham? Why is this being asked of me?
Billingham conveyancing solicitors as well as nationwide property practitioners accross the UK have a duty under money laundering regulations to verify the identity of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to disclose two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and evidence of address (typically a Bank Statement less than 3 months old).
Proof of source of funds is also required under the money laundering laws as conveyancers are required to ensure that the money you are utilising to buy a property (be it the exchange deposit or the total purchase amount if you are buying without a mortgage) has originated from an acceptable source (such as employment savings) as opposed to the product of illegitimate behaviour.
I am buying a house and need a conveyancing solicitor in Billingham who is on the Barclays Direct solicitor. Could you point me in the right direction as regards a solicitor?
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 Billingham. We dont recommend any particular firm.
Do I need to be concerned by brokers that I am dealing with are recommending a national conveyancing firm as opposed to a High Street Billingham conveyancing company?
As is the case with many service providers, often input from relatives can be very helpful. Nevertheless there are lots of players in a conveyancing matter; estate agents, financial adviser and mortgage companies may suggest lawyers to select. On occasion the lawyers might be known to one of the organisations as experts in their field, but occasionally there is an underlying financial incentive behind the recommendation. You have the right to choose your own lawyer. You need to be aware that some banks specify a panel list of law firms you must use for the mortgage aspect of your house move.
Should I appoint a Billingham conveyancing solicitor based in the area that I am hoping to buy? We have a good friend who can perform the legal formalities but her office is 200kilometers drive away.
The primary upside of using a high street Billingham conveyancing firm is that you can visit the firm to sign documents, hand in your identification documents and apply pressure on them where appropriate. They will also have local intelligence which is a plus. That being said it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and in the main were happy that should trump using an unfamiliar Billingham conveyancing lawyer solely due to them being based in the area.
What are your top tips when it comes to choosing a Billingham conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Billingham conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you talk with two or three firms including non Billingham conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
-
How familiar is the practice with lease extension legislation?
I purchased a garden flat in Billingham, conveyancing having been completed in 2001. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Billingham with an extended lease are worth £265,000. The ground rent is £50 yearly. The lease comes to an end on 21st October 2100
You have 76 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure 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 other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.