In what way does my ID and proof of funds have anything to do with my conveyancing in East Sussex? Is this really warranted?
You are right in the requirement set out by your lawyer has nothing to do with conveyancing in East Sussex. However these days you can not proceed with any conveyancing transaction in the absence handing over proof of your identity. Ordinarily this takes the form of a either your passport or driving licence and a council tax bill. Remember if you are providing your driving licence as evidence of ID it needs to be both the paper section and photo card part, one is not satisfactory in the absence of the other.
Verification of the origin of funds is mandated in accordance with the Money Laundering Regulations. Please do not be offended when you are asked to produce this as your lawyer will need to retain this information on record. Your East Sussex conveyancing practitioner will need to see evidence of proof of funds prior to accepting any funds from you into their client account and they will also ask additional questions concerning the source of monies.
My bank has recommended a law firm on their panel based in East Sussex but I would rather instruct a conveyancing lawyer in East Sussex round the corner to me. Can you assist?
It is by no means the case that all East Sussex conveyancing firms are on all lender’s conveyancing panel. Please make the most of the above search tool to locate a East Sussex conveyancing firm on the on the mortgage company panel.
What is the difference between a licensed conveyancer and conveyancing solicitor in East Sussex
There are many recorded licenced Conveyancers in East Sussex and Solicitor partnerships in East Sussex offering conveyancing It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal aspects of the home buying process. Both can conduct associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
When it comes to mortgage companies such as Kent Reliance, do East Sussex lawyers face a yearly amount to be on the conveyancing panel?
We are not aware of any mortgage company fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I have decided to exercise my right to buy my property in East Sussex off the council. I have a mortgage agreed with Skipton. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
I'm buying a new build house in East Sussex with the aid of help to buy. The builders would not budge the amount so I negotiated £7000 of additionals instead. The house builders rep suggested that I not reveal to my lawyer about the deal as it would affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey completed on a property in East Sussex before instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some lenders will not give a mortgage on this type of premises.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. If you contact us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in East Sussex. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in East Sussex to see if the conveyancing costs will increase in light of this.
Having had my offer accepted I require leasehold conveyancing in East Sussex. Before diving in I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in East Sussex - then the leasehold title will always include the basic details 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 inherited a 2 bed flat in East Sussex, conveyancing formalities finalised 7 years ago. Can you work out an approximate cost of a lease extension? Similar properties in East Sussex with a long lease are worth £207,000. The average or mid-range amount of ground rent is £60 levied per year. The lease terminates on 21st October 2082
With 57 years remaining on your lease we estimate the premium for your lease extension to span between £28,500 and £33,000 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.