What does my ID and proof of funds have anything to do with my conveyancing in Buckhurst Hill? Is this really warranted?
Buckhurst Hill conveyancing solicitors and indeed property lawyers accross the UK have a duty under money laundering regulations to check the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to supply two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and evidence of address (typically a Bank Statement no older than three months).
Evidence of the origin of monies is also required in accordance with the money laundering regulations as conveyancers are duty bound to ensure that the money you are using to purchase a property (whether it be the deposit for exchange or the full purchase monies if you are a cash purchaser) has come from legitimate source (such as an inheritance) as opposed to the product of criminal activity.
We previously chose conveyancers locally in Buckhurst Hill on the UBS solicitor panel. They have just invoiced me a supplemental charge for the legal aspects of the UBS mortgage. Is this an additional conveyancing fee set by UBS?
Provided it is contained in their Terms of Engagement or Quote then yes your conveyancing practitioner is entitled to levy a fee for this. This charge is not dictated by UBS but by your Buckhurst Hill property lawyer. Some firms on the UBS panel will charge an ‘acting for lender’ fee and others do not.
My husband and I are at the point of viewing apartments in Buckhurst Hill and I am now considering a potential offer. Is it sensible to have a solicitor on ‘stand by’? I am planning to take a mortgage with Co-operative.
It would be wise to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are seeking a mortgage with Co-operative, ask your prospective lawyers if they are on the Co-operative conveyancing panel otherwise they can't do the mortgage legal work.
Lloyds have agreed my mortgage in principle, my bid on a flat in Buckhurst Hill has been accepted, what happens next?
The property agent will need to be advised as to your conveyancer's details (be sure the conveyancers are on the lender’s panel). Call up Lloyds or the financial adviser and finalise any outstanding forms. Lloyds will instruct a valuer who will get in contact with the estate agent or owners to arrange an appointment. Once conducted (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Lloyds will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Buckhurst Hill.
I require fast conveyancing in Buckhurst Hill as I have a deadline to complete in less than 4 weeks. A home loan is not required. Can I escape the need for conveyancing searches to save fees and time?
If.Given you are not taking a home loan you are at free not to do searches although no solicitor would suggest that you don't. Drawing on years of experience of conveyancing in Buckhurst Hill the following are examples of what can crop up and therefore impact market value: Refused Planning Applications, Overdue Fees, Outstanding Grants, Railway Schemes,...
We are 17 days into a residential purchase having been directed to conveyancers by the local agent to do our conveyancing in Buckhurst Hill. I am am starting to be disappointed with the level of service. Can you you assist me in finding new solicitors?
They would have to be really bad to suggest changing them. Has the loan offer been issued? In the event that it has you must advise them of the new conveyancer and ensure the loan are issued to the new lawyers. Your new solicitor ideally needs to be on the mortgage company panel to avoid supplemental charges and frustration. That should be your first question of the new conveyancers. Our search tool should assist you in finding a lender approved conveyancer for your conveyancing in Buckhurst Hill
I've recently bought a leasehold flat in Buckhurst Hill. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the leaseholder of a second floor flat in Buckhurst Hill. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
if there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the LVT to arrive at the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a Buckhurst Hill property is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case was in relation to 2 flats. The unexpired residue of the current lease was 69.26 years.
I note that you have a search directory listing law firms on the mortgage company conveyancing panel. Do Buckhurst Hill conveyancing companies pay you a commission if I retain them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the mortgage company conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Buckhurst Hill.