I was informed recently by my financial adviser that my Blaina the law firm I have appointed is not on the bank Solicitor panel. What can I do to be certain if this is indeed the case?
The first thing you need to do is to contact your Blaina conveyancer. It is reasonable to expect your lawyer to notify you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
What does my ID and proof of funds have anything to do with my conveyancing in Blaina? What am I being asked for?
To satisfy the Money Laundering Regulations any Blaina conveyancing firm will require proof of identity in all conveyancing transactions. This is usually satisfied by provision of a passport and an original bank statement or utility account showing your correct address.
In accordance with Money Laundering Regulations, property lawyers are required to check not simply the identity of conveyancing clients but also the origin of monies that they receive in respect of any matter. Refusal to disclose this may result in your conveyancer terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to inform the appropriate authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
My house in Blaina is up for sale and I have a purchaser. Will my conveyancer have to be required to be on the HSBC conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the HSBC 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 in recent years.
Just acquired a terraced house in Blaina , What is the estimated time for the Land Registry to deal with the formalities evidencing my ownership? My Blaina conveyancing solicitor has been very slow, so I want to be certain the land registry aspects are dealt with.
There is nothing unique about conveyancing in Blaina registration formalities. As opposed to being determined by geographic area, timeframes can differ depending on the party submitting the application, whether there are errors and if the Land registry have to notify any interested persons or bodies. As of today roughly three quarters of submission are fully dealt with within two weeks but some can be subject to longer hold-ups. Registration occurs after the purchaser is living at the property thus registration formalities is not usually primary concern yet if there is a degree of urgency associated with the registration then you or your conveyancer can communicate with the Registry to express the reasoning for an expedited registration.
I decided to have a survey carried out on a property in Blaina before retaining lawyers. I have been advised that there is a flying freehold element to the property. My surveyor has said that some mortgage companies will not give a loan on such a property.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. If you e-mail us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Blaina. Conveyancing will be smoother if you use a solicitor in Blaina especially if they regularly deal with such properties in Blaina.
I’m about to sell my 2 bed flat in Blaina. Conveyancing has not commenced, but I have just had a quarterly maintenance charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the invoice as usual given that all ground rent and maintenance invoices will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I purchased a basement flat in Blaina, conveyancing was carried out July 2008. Can you work out an approximate cost of a lease extension? Comparable flats in Blaina with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease expires on 21st October 2074
With just 53 years left to run we estimate the premium for your lease extension to span between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.