Our family lawyer has sent a quote for £995 for no move no fee conveyancing in Marks Gate. I’m looking to sell a modern detached home for £200,000. Is this expensive? Is it in excess of what I should be paying for conveyancing in Marks Gate?
The quote is slightly on the steep side. If you shop around you could decrease the fees slightly by as much as £125. On the other hand, you couldlive to rue opting for an a cheaper conveyancer. If is important to ensure that the firm can also act for your mortgage company. You can employ our comparison tool to choose a Marks Gate conveyancing practice on the lender’s approved list of lawyers which can often include conveyancing solicitors in Marks Gate.
In what way does my ID and proof of funds have anything to do with my conveyancing in Marks Gate? Why is this being asked of me?
Marks Gate conveyancing solicitors as well as nationwide property practitioners throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to verify the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified ID; proof of identity (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 mandated to investigate that the money you are using to buy a property (be it the exchange deposit or the total purchase monies where you are a cash purchaser) has come from an acceptable source (such as employment savings) rather than the fruits of illegitimate activity.
My property lawyer in Marks Gate has never been on on the Santander Approved Panel. Can I still continue with my family solicitor notwithstanding that they are excluded from the Santander panel?
The limited options open to you here include:
- Carry on with your preferred Marks Gate solicitors but Santander will need to use a conveyancer on their list of acceptable firms. This will result in additional total conveyancing fees as well as cause delays.
- Find a new lawyer to to deal with the purchase, remembering to check they are Convince your conveyancer to do everything within their powers to join the Santander conveyancing panel
It has been 2 months following my purchase conveyancing in Marks Gate concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been on the look out for a ground for flat up to £305k and found one round the corner in Marks Gate I like with amenity areas and railway links in the vicinity, however it only has 49 years unexpired on the lease. There is not much else in Marks Gate for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a mortgage that many years may be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
My conveyancers in Marks Gate have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with the lender. Is it case that being on the mortgage company conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the bank Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.