Unfortunately I am unable to travel far from Kegworth. Please spell out why all Kegworth property lawyers are not on all bank panels?
A decade ago most lenders exhibited an attitude to risk which differs from the current day. The FSA in 2010 instigated a thematic review into mortgage fraud which in summary warned lenders: know the conveyancers on your panel. Consequently, mortgage companies have since soughtmore data from law firms concerning their processes and the individuals employed by them and set certain criteria such as completing a minimum amount of transactions. Many firms have found themselves excluded from lender panels even though they had 100% healthy track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the criteria of amount of transactions the lenders required.
What does my ID and proof of funds have anything to do with my conveyancing in Kegworth? Why is this being asked of me?
You are right in these requests have nothing to do with conveyancing in Kegworth. However these days you will not be able to complete any conveyancing transaction if you have not handing over evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence and a bank statement. Remember if you are supplying your driving licence as evidence of ID it needs to be both the paper part as well as the photo card part, one is not acceptable in the absence of the other.
Proof of your origin of money is necessary in accordance with the Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancing solicitor will need to have this information on record. Your Kegworth conveyancing practitioner will need to see evidence of proof of funds before they are able to accept any money from you into their client account and they should also ask further queries concerning the origin of monies.
I am assisting my step-mother sell her house in Kegworth. Will the conveyancer commission the energy performance certificate or it is for me to coordinate?
Following the demise of Home Packs, EPC’s was left as a compulsory part of moving property. An energy assessment should be commissioned in advance of the property being advertised. This is not something that law firms normally arrange. If you are using a Kegworth conveyancing lawyer they might help arrange energy assessments given their relationships with reputable Kegworth accredited person
This question may be naive but I am unexperienced as FTB of a ground floor flat in Kegworth. Do I pick up the keys to the property on completion from my conveyancer? If so, I will use a High Street conveyancing solicitor in Kegworth?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the seller's conveyancers, and once they have received this, you should be invited to collect the keys from the Estate Agents and move into your new home. Usually this occurs between 1 and 3pm.
Completion of my purchase has taken place for my property in Kegworth. Conveyancing was of an acceptable standard but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I'm converting the mortgage on my current home to a BTL mortgage with Santander and intend to use the remaining equity as a deposit on a second house. The area we are talking about is Kegworth. Will your conveyancers be able to act for the two lenders and tie in the two deals?
Do use our comparison tool on this site to check that the conveyancers are on the appropriate lender panels. Having checked that they are the lawyer should be able to connect the two deals but you should talk with you lawyer and specify your expectations and needs.
We're new to the buying process - agreed a price, but the estate agent told us that the seller will only move forward if we instruct the agent's recommended lawyers as they want an ‘expedited deal’. My instinct tells me that we should use a family conveyancer accustomed to conveyancing in Kegworth
We suspect that the owner is not behind this request. If they desire ‘a quick sale', taking such a hostile approach to a genuine purchaser is going to damage their objectives. Bypass the agents and go straight to the owners and make the point that (a)you are motivated buyers (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you intend to instruct your preferred Kegworth conveyancing firm - not the ones that will provide the negotiator at the agency a kickback or meet his conveyancing thresholds demanded by corporate headquarters.
I am on look out for some leasehold conveyancing in Kegworth. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is registered - and most are in Kegworth - 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 purchased a ground floor flat in Kegworth, conveyancing having been completed April 2008. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Kegworth with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 levied per year. The lease comes to an end on 21st October 2084
You have 63 years left to run we estimate the price of your lease extension to span between £16,200 and £18,600 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.