Me and my partner are planning to purchase a 1 bedroom apartment in Milton with a mortgage. We wish to retain our Milton solicitor, but the bank advise she’s not on their "panel". We have to appoint one of the mortgage company panel firms or retain our Milton conveyancer as well as pay for one of their panel firms to represent them. This feels very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Milton conveyancing solicitor to apply to be on the conveyancing panel.
Me and my fiancee are purchasing our first house. Our lawyer has messagedto see if we wish to take out additional conveyancing searches. We are really unsure what's recommended for conveyancing in Milton
The type of Milton conveyancing searches depends primarily on the property, the location, the likelihood of any of these risks, your knowledge of the area and risks, your general attitude to risk. What matters is that you adequately comprehend what information each search could provide. Then you can make a decision if you consider that you need that information. If unclear, ask the solicitor to explain.
My wife and I are purchasing a apartment in Milton. It might be a silly question but how we can trust a solicitor? At some point we will need to send money into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have been advised by my lawyer that restrictive coveneant insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Milton?
The right level of restrictive coveneant indemnity insurance depends on who your lender is. It would differ for example between Accord Mortgages Ltd and The Royal Bank of Scotland. Conveyancing practitioners as opposed to members of the public take out such insurances.
We had appointed conveyancing lawyers based in Milton on the Nottingham solicitor approved list. They are now charging me an additional amount for handling the Nottingham mortgage. Is this an additional conveyancing fee set by Nottingham?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your conveyancing practitioner may charge a fee for this. This charge is not set by Nottingham but by your Milton lawyer. Numerous firms on the Nottingham panel will charge an ‘acting for lender’ fee and others do not.
I have been on the look out for a leasehold apartment up to £305k and found one near me in Milton I like with a park and station in the vicinity, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Milton for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage the shortness of the lease may be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
As co-executor for the will of my father I am selling a house in Monmouth but I am based in Milton. My solicitor (approximately 235 kilometers from mehas requested that I sign a statutory declaration prior to completion. Could you suggest a conveyancing lawyer in Milton who can witness and place their company stamp on the document?
strictly speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are Milton based
My conveyancer in Milton has requested from me proof of ID documents saying that this forms part of his requirements as a conveyancer on the mortgage company Solicitor panel. Can you confirm whether this is the case?
Anti-terror and anti-money-laundering rules require Milton conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that the mortgage company also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the lender's UK Finance Lenders’ Handbook requirements