Is the fact that my conveyancer in Broughton Astley is not on my lender's solicitor panel that there is a problem with the standard of her conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Broughton Astley conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
I am need of leasehold conveyancing for a flat in a relatively new development (seven years built) in Broughton Astley. Almost all the properties are already sold. Do I need carry out the neighbourhood searches as part of conveyancing in Broughton Astley?
You would be taking a significant risk in failing carrying out Broughton Astley conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal requirement to have them, but we would absolutely advise in no uncertain terms that your lawyer conducts them. Where time pressures and cost are primary issues you should consider with your lawyer about the options such as indemnity insurance available to you
In what way does my ID and proof of funds have anything to do with my conveyancing in Broughton Astley? Why is this being asked of me?
You are right in the requirement set out by your lawyer has nothing to do with conveyancing in Broughton Astley. However these days you will not be able to proceed with any conveyancing deal without first submitting proof of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a utility bill. Please note that if you are supplying your driving licence as evidence of ID it must be both the paper section and photo card part, one is not sufficient in the absence of the other.
Proof of your origin of monies is mandated under Money Laundering Regulations. Don’t be offended when you are asked to produce this as your conveyancing solicitor must have this information on record. Your Broughton Astley conveyancing practitioner will require evidence of proof of funds prior to accepting any money from you into their client account and they should also ask further questions concerning the source of funds.
I am about to put a bid on a leasehold flat in Broughton Astley. The selling agents tell me that it is standard for flats in Broughton Astley to have less than 75 years remaining. I am obtaining a mortgage with Platform. Is this going to be acceptable if the lease has 70 years left.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 26/9/2024 the requirements read as follows :
Is it necessary to take out insurance to protect me from financial exposure to chancel repairs when purchasing a residence in Broughton Astley?
Unless a prior acquisition of the house took place post 12 October 2013 you could assume that lawyers carrying out conveyancing in Broughton Astley to continue to advocate a chancel search and or chancel repair liability policy.
How does conveyancing in Broughton Astley differ for newly converted properties?
Most buyers of new build property in Broughton Astley come to us having been asked by the developer to sign contracts and commit to the purchase even before the residence is completed. This is because builders in Broughton Astley typically buy the real estate, 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 property lawyers 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 used to new build conveyancing in Broughton Astley or who has acted in the same development.