I'm in the process of swapping over from my current homeowner loan to a Buy to Let Godiva Mortgages Ltd mortgage. I was told by my mortgage that I require a lawyer as part of the process. I spoke to my past Great Dunmow conveyancing firm who dealt with the legals when I originally purchased the house. The costs estimate provided of just over five hundred pounds has shocked me as I am not require purchase conveyancing - it’s simply a straightforward remortgage.
The estimate does seem a little on the high side. Where you are happy to invest time contrasting charges you may be able to reduce the fees marginally by as much as a hundred pounds. On the other hand, providing that you were happy with the service the firm provided you maycome to regret choosing an an unknown solicitor. Remember to check that the firm can act for Godiva Mortgages Ltd. You can use our search tool to select a Great Dunmow conveyancing firm on the Godiva Mortgages Ltd conveyancing panel, which can often include conveyancing solicitors in Great Dunmow.
In what way does my ID and proof of funds have anything to do with my conveyancing in Great Dunmow? What am I being asked for?
Great Dunmow conveyancing solicitors as well as nationwide property lawyers accross the UK have a duty under Anti-terror and anti-money-laundering rules to check the ID of any client with a view to ensure 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 (usually a Utility Bill no more than three months).
Proof of source of monies is also necessary under the money laundering statutes as solicitors are obliged to investigate that the monies you are using to purchase a property (whether it be the deposit for exchange or the total purchase price if you are a cash purchaser) has come from an acceptable source (such as employment savings) rather than the proceeds of criminal activity.
Have just purchased a probate house at auction in Great Dunmow. Conveyancing is required. What is next?
Given that you are now legally bound yourself to purchase you should instruct a conveyancing practitioner soon as you are facing a tight a drop dead date to complete the purchase. An auction property will ordinarily have a bespoke auction set of papers. This will likely include most,if not all of the documents that your solicitor will need. Where you are dealing with leasehold property the legal papers should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You must pass this on to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that that you have the requisite funding organised to complete on the on the contractual date .
When it comes to mortgage companies such as Virgin Money, do Great Dunmow property lawyers have to pay a fee to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Great Dunmow bank branch on a couple of occasions and was told they are content with the situation and they will lend. My Great Dunmow conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend based on their specific requirements. I simply don't know who is right.
The solicitor has to follow the CML Handbook Part 2 provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Is it possible to switch solicitor as I have to instruct a firm on the Skipton Building Society conveyancing list. I had appointed a local conveyancing solicitor in Great Dunmow five minutes from me but she is not approved by Skipton Building Society
It would be our pleasure to help you select a conveyancing solicitor in Great Dunmow on the Skipton Building Society panel. Please note that the conveyancers that we list do not pay us commission if you instruct them and are under regulation of the SRA who oversee all conveyancing solicitors in Great Dunmow. In utilising the find a conveyancing solicitor tool on this website, you can scrutinise fees for conveyancing solicitors in Great Dunmow and beyond.
We are 14 days into a freehold purchase having been referred to solicitors by the high street agent to perform conveyancing in Great Dunmow. We are not happy. Can you you assist me in finding new conveyancers?
A conveyancer would have to be really poor to suggest replacing them. Has your loan offer been sent? In the event that it has you need to inform them of the new contact details and ensure the loan are re-sent. The conveyancer needs to be on the mortgage company approved list to avoid escalating fees and frustration. So that should be your first question of the new conveyancers. Our find a solicitor tool should assist you in finding a lender approved lawyer for your conveyancing in Great Dunmow
I am a negotiator for a long established estate agency in Great Dunmow where we see a few flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Great Dunmow conveyancing firms. Please can you clarify whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the registered owner of a split level flat in Great Dunmow, conveyancing having been completed August 2011. How much will my lease extension cost? Comparable properties in Great Dunmow with a long lease are worth £179,000. The ground rent is £65 yearly. The lease finishes on 21st October 2080
With just 57 years left to run we estimate the premium for your lease extension to span between £26,600 and £30,800 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.