I can't travel far from Dunstable. Is there a reason why all Dunstable conveyancing practitioners aren't automatically on all lender panels?
Banks tend to restrict either the nature or volume of conveyancing solicitors on their approved list of lawyers. A common example of such restriction(s) being that the organisation must have two or more partners. As well as restricting the structure of firm, some lenders decided to reduce the size of their panel they permit to represent them. You should note that building societies have no responsibility for the standard of service provided by any Dunstable property lawyer on their approved list. Increases in mortgage fraud was the main trigger for the reduction of solicitor panels from 2008 notwithstanding that there are conflicting opinions about the extent of solicitor involvement in some of that fraud. Data via HM Land Registry exposes that thousands of conveyancing firms only transact less than three conveyances annually. Those vindicating conveyancing panel consolidation question why conveyancing firms deserve any entitlement to be listed on a bank panel when it is evident that conveyancing is not their primary expertise?
What does my ID and proof of funds have anything to do with my conveyancing in Dunstable? What am I being asked for?
You are right in these requests have nothing to do with conveyancing in Dunstable. Nowadays you can not proceed with any conveyancing process if you have not handing over proof of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a council tax bill. Remember if you are supplying your driving licence as evidence of ID it must be both the paper section as well as the photo card part, one is not sufficient in the absence of the other.
Evidence of your origin of monies is required under Money Laundering Regulations. You should not be offended when when this is requested of you as your conveyancing solicitor must have this information on file. Your Dunstable conveyancing solicitor will require evidence of proof of funds prior to accepting any monies from you into their client account and they should also ask additional queries regarding the origin of monies.
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Does this mean I have to appoint their panel conveyancer as I would prefer to instruct a Dunstable based conveyancing firm?
Do check but the the likelihood is that appoint one of their panel lawyers if you want the "fee-free" incentive. Call the mortgage company and ask if they allow a cash alternative. Some banks have previously offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Dunstable.
Should our conveyancer be making enquiries concerning flooding as part of the conveyancing in Dunstable.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Dunstable. There are those who purchase a house in Dunstable, fully aware that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, however there are a numerous searches that can be carried out by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in Dunstable. The conventional set of information given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the owner to discover if the property has ever been flooded. In the event that flooding has previously occurred which is not notified by the seller, then a purchaser could issue a legal claim for losses as a result of such an incorrect response. The purchaser’s solicitors may also commission an enviro report. This should indicate whether there is a recorded flood risk. If so, more detailed inquiries should be carried out.
I have todaydiscovered that Stirling Law have been shut down. They carried out my conveyancing in Dunstable for a purchase of a leasehold apartment 10 months ago. How can I establish that my home is in my name in the name of the former proprietor?
The quickest way to see if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Dunstable conveyancing specialists.
What are your top tips when it comes to choosing a Dunstable conveyancing firm to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Dunstable conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Dunstable conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be of use:
What are the charges for lease extension work? How many lease extensions has the firm completed in Dunstable in the last twenty four months?
I own a split level flat in Dunstable, conveyancing having been completed October 2008. Can you work out an approximate cost of a lease extension? Corresponding flats in Dunstable with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease runs out on 21st October 2079
With only 57 years left to run the likely cost is going to be between £28,500 and £33,000 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures 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 take any other action based on this information before getting professional advice.