I am getting a mortgage offer from Halifax. I would like to use a Licensed Conveyancer in Littleover. Does the Halifax Conveyancing panel exclude conveyancers regulated by the CLC?
The Halifax approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
The owners of the house we are looking to purchase hired a conveyancing solicitor in Littleover who has recommended a exclusivity agreement with a down payment two thousand pounds. Is it wise to enter into such agreements?
Exclusivity agreements are agreements between a property vendor and prospective buyer granting the buyer exclusive rights to purchase the premises for a certain period of time. For all intents and purposes, a lock out is a document stating that you will be issued with a contract at a later time being the contract for the actual sale. It is generally utilised for buyer protection though in many situations, the vendor may enjoy an upside from such agreements as well. There are various positives and negatives to having an agreement but you need to check with your lawyer but note that it may result in costing you more in conveyancing fees. In light of these reasons these agreements are avoided when it comes to conveyancing in Littleover.
In what way does my ID and proof of funds have anything to do with my conveyancing in Littleover? Why is this being asked of me?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Littleover. However these days you will not be able to complete any conveyancing process if you have not providing evidence of your identity. This usually takes the form of a either your passport or driving licence and a utility bill. Please note that if you are supplying your driving licence as evidence of identification it must be both the paper part and photo card part, one is not acceptable without the other.
Proof of the origin of funds is required in accordance with the Money Laundering Regulations. Don’t be offended when when this is requested of you as your conveyancer must have this information on record. Your Littleover conveyancing lawyer will require evidence of proof of funds before they are able to accept any money from you into their client account and they may also ask additional questions regarding the origin of funds.
How does conveyancing in Littleover differ for new build properties?
Most buyers of new build or newly converted property in Littleover approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is completed. This is because house builders in Littleover usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Littleover or who has acted in the same development.
I have been on the look out for a flat up to £195,000 and found one near me in Littleover I like with a park and transport links in the vicinity, the downside is that it's only got 52 years on the lease. I can't really find anything else in Littleover in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a home loan the remaining unexpired lease term will be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you may request that they start the process of the extension 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 consult your conveyancing lawyer concerning this matter.
Is there a difference between surveying and conveyancing in Littleover?
Conveyancing - in Littleover or elsewhere - is the legal term given to transferring legal title of property from one person to another. It involves the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are purchasing and will help you find out about the condition of the building and, if there are problems, give you leverage for reducing the price down or asking the seller to fix the problems prior to you move in.