We are buying a brand new apartment in Emsworth and my solicitor is advising me that she has to the lender to disclose incentives from the builder. I am nearing the developer’s deadline to sign contracts and my preference is not to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
What does my ID and proof of funds have anything to do with my conveyancing in Emsworth? Why is this being asked of me?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to check the identification documents of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you are required to sign will no doubt reaffirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you refuse to supply ID verification documents, your solicitor can not take you on as a client.
Are the BSA intent on creating a online directory to to identify practices on the Melton Mowbray Building Society conveyancing panel for example in Emsworth?
We would not expect to be advised of any plans on the part of the BSA to promote such a register.
I have recentlybeen informed that Arc property Solicitors have closed. They carried out my conveyancing in Emsworth for a purchase of a leasehold flat 12 months ago. How can I be sure that my home is not still registered in the name of the previous owner?
The easiest way to check if the property is registered to you, you can carry out 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 Emsworth conveyancing specialists.
How easy is it to use your search app to select a conveyancing practitioner in Emsworth on the approved list for my mortgage?
First choose a bank such as Birmingham Midshires, Virgin Money or Nottingham Building Society then type in your location a common one being Emsworth. Conveyancing firms in Emsworth and further afield will then be shown.
I’m about to sell my ground floor apartment in Emsworth. Conveyancing lawyers have not yet been instructed, however I have just received a half-yearly service charge invoice – what should I do?
The sensible thing to do is clear the maintenance contribution as you normally would as all rents and service payments will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I own a 1 bedroom flat in Emsworth, conveyancing formalities finalised in 2010. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Emsworth with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ceases on 21st October 2075
With only 55 years left to run we estimate the premium for your lease extension to range between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.