What does my ID and proof of funds have anything to do with my conveyancing in Childwall? What am I being asked for?
In order to comply with Money Laundering Regulations any Childwall conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility bill showing your correct address.
Under Money Laundering Regulations, conveyancers are obliged by law to investigate not only the identity of conveyancing clients but also the origin of monies that they receive in respect of any matter. An unwillingness to disclose this will lead to your conveyancer terminating their retainer 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 relevant authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
My wife and I have recently appointed a conveyancing solicitor in Childwall. I I am struggling to find out whether they are accepted on the Santander approved list of lawyers. Can you help?
You should call your conveyancer and enquire if they are on the lender panel. Alternatively you should call Santander who may be able to assist.
My father informed me that in buying a property in Childwall there may be various restrictions prohibiting external alterations to a property. Is this right?
We are aware of a number of properties in Childwall which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Childwall should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Please help - my lawyer says that lack of building regulations insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Childwall?
The right level of lack of building regulations indemnity insurance depends on your lender. It would differ for example between National Westminster Bank and Leeds Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
We had chosen conveyancing lawyers located in Childwall on the UBS solicitor panel. They have just invoiced me a separate amount for handling the UBS mortgage. Is this a supplemental conveyancing fee set by UBS?
Provided it is contained in their Terms and Conditions or estimate then yes your conveyancer can charge a fee for this. This fee is not set by UBS but by your Childwall lawyer. Numerous firms on the UBS panel will charge ’dealing with mortgage’ fee but some practices incorporate it on their overall fee.
How does conveyancing in Childwall differ for newly converted properties?
Most buyers of new build or newly converted property in Childwall contact us having been asked by the seller to sign contracts and commit to the purchase even before the property is built. This is because house builders in Childwall usually acquire the site, 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 Childwall or who has acted in the same development.
My husband and I are FTB’s - had an offer accepted, yet the property agent advised that the owners will only issue a contract if we instruct their chosen lawyers as they need a ‘quick sale’. Our preferred option is to instruct a high street solicitor accustomed to conveyancing in Childwall
We suspect that the owner is unaware of this request. Should the seller desire ‘a quick sale', turning down a serious buyer is is going to put the whole deal at risk. Contact the vendors directly and make the point that (a)you are motivated purchasers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you are going to use your own,trusted Childwall conveyancing lawyers - as opposed tothose that will give their estate agent a commission or meet his conveyancing figures set by corporate headquarters.
Having had my offer accepted I require leasehold conveyancing in Childwall. Before I set the wheels in motion I want to be sure as to the remaining lease term.
Assuming the lease is registered - and 99.9% are in Childwall - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I acquired a ground floor flat in Childwall, conveyancing having been completed October 2007. How much will my lease extension cost? Corresponding flats in Childwall with an extended lease are worth £185,000. The ground rent is £65 levied per year. The lease runs out on 21st October 2084
With just 60 years remaining on your lease we estimate the premium for your lease extension to span between £20,000 and £23,000 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.