Do the conveyancing lawyers via your comparison service conduct conveyancing in Motspur Park by way of an attended exchange?
We do have a number of conveyancing experts carrying out 24hr exchanges. Do e-mail us to get a costs illustration and details as to dates.
In what way does my ID and proof of funds have anything to do with my conveyancing in Motspur Park? What am I being asked for?
It is indeed that case that these requests have nothing to do with conveyancing in Motspur Park. Nowadays you can not proceed with any conveyancing process if you have not submitting proof of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a bank statement. Remember if you are providing your driving licence as proof of identification it needs to be both the paper element and photo card part, one is not satisfactory without the other.
Proof of the source of funds is necessary in accordance with the Money Laundering Regulations. Don’t be offended when when this is requested of you as your conveyancer will need to have this information on record. Your Motspur Park conveyancing lawyer 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 will also ask additional questions regarding the origin of funds.
we are a couple who wish to acquire a newly converted flat in Motspur Park with a homeloan from Lloyds TSB Bank.We use our Motspur Park conveyancing practitioner but Lloyds TSB Bank informed us he's not listed on their approved list of member firms. we are left little option but to use a Lloyds TSB Bank panel solicitor or keep our preferred solicitor and pay for a Lloyds TSB Bank panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The home loan issued to you contains terms and conditions, a common one being that lawyers must be on the Lloyds TSB Bank approved list. Until recently, most banks 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 solicitors to apply to be on the conveyancing panel for Lloyds TSB Bank
I happen to be the sole recipient of my late father’s will and I have everything in my name now, including the my former home in Motspur Park. The Motspur Park property was put into my name in January. I plan to dispose of the house. I understand that there is a Mortgage Lenders six month 'rule', meaning my property ownership will be regarded the same way as if I'd bought the property in January. Will no one buy the property for half a year?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. How sensible a view mortgage companies take of it, depend on the lender as this requirement principally exists to pick up on the purchase and immediately sell or the flipping of properties.
We expect to receive a AIP from Leeds Building Society this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any Motspur Park solicitors on the Leeds Building Society conveyancing panel, or is it better to go independently?
You will need to appoint Motspur Park solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.
I can not work out if my bank requires a lease extension. I have telephoned my Motspur Park building society branch on a couple of occasions and was told they are content with the situation and they will lend. My Motspur Park conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they refuse to lend based on their specific requirements. Who do I believe?
Your solicitor has to comply with the Council of Mortgage Lenders’ Handbook Part 2 provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one round the corner in Motspur Park I like with amenity areas and transport links nearby, the downside is that it only has 61 years unexpired on the lease. There is not much else in Motspur Park in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan that many years may be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property 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 existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
I need to retain a conveyancing solicitor for purchase conveyancing in Motspur Park. I've chance upon a web site which looks to be the perfect offering If it is possible to get all formalities completed via email that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?