Is the fact that my solicitor in Kibworth Beauchamp is not listed on my lender's solicitor panel that there is a problem with the standard of her conveyancing?
It would not be wise to jump to that conclusion. There are plenty of plausible explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Kibworth Beauchamp conveyancing firm and enquire why they are no longer on the approved list for your lender.
My partner and I are refinancing our penthouse in Kibworth Beauchamp with RBS. We have a son 19 who lives at home. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is repossessed. I have a couple of questions (1) Is this document specific to the RBS conveyancing panel as he never had to sign this form when we bought 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your RBS conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to RBS. This is solely used to protect RBS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of RBS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
We previously chose conveyancing lawyers with offices in Kibworth Beauchamp on the Kent Reliance solicitor approved list. They have just invoiced me a supplemental amount for dealing with the Kent Reliance mortgage. Is this a supplemental conveyancing fee set by Kent Reliance?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your property lawyer is entitled to levy a fee for this. This charge is not dictated by Kent Reliance but by your Kibworth Beauchamp property lawyer. Some firms on the Kent Reliance panel will levy an ‘acting for lender’ fee and others do not.
We expect to receive a DIP from Santander this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Santander recommend any Kibworth Beauchamp solicitors on the Santander conveyancing panel, or is it better to go independently?
You will need to appoint Kibworth Beauchamp solicitors independently although you'll need to choose one on the Santander conveyancing panel. The solicitor represents both you and Santander through the process.
After shopping around on the internet I have found a Kibworth Beauchamp solicitor having made sure that they are on the Barclays conveyancing panel. Does my lawyer arrange the survey of the property?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Kibworth Beauchamp surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Over the last few months I have been searching for a flat up to £305k and found one round the corner in Kibworth Beauchamp I like with open areas and transport links nearby, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Kibworth Beauchamp for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the shortness of the lease will be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I was pointed in your direction by a number of property agents in Kibworth Beauchamp to get a quote from a property lawyer on your site. Is there a financial upside for Estate Agents to market your services ahead of alternative conveyancing organisations?
We refuse to make any commission for directing people to this site. We thought it would be too underhand a fee because home movers will think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am buying a flat with all finances in place. I have provided solicitor with two distinct proof of photo ID, bank statement, numerous utility bills. Now he wants a copy from a probate lawyer stating that the funds are in place and that it has come from inheritance and not via illegitimate means.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Kibworth Beauchamp conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.