My family lawyer has quoted just over a thousand pound for no completion no fee conveyancing in Mottingham. I’m hoping to downsize from a Victorian property for £150,000. Are these conveyancing fees excessive? Is it above what I should be paying for conveyancing in Mottingham?
The charges are a little high. If you are prepared to invest time contrasting costs you could shave off some of the cost by perhaps £125. On the other hand, you couldlive to rue choosing an an untested conveyancer. Remember to check that the firm can also act for your bank. Do employ our search tool to select a Mottingham conveyancing firm on the banks conveyancing panel which can often include conveyancing solicitors in Mottingham.
What does my ID and proof of funds have anything to do with my conveyancing in Mottingham? Is this really necessary?
Mottingham conveyancing solicitors as well as nationwide property practitioners accross the UK have a duty under Anti-terror and anti-money-laundering rules to verify the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and evidence of address (usually a Utility Bill less than 3 months old).
Evidence of source of monies is also necessary in accordance with the money laundering regulations as conveyancers are duty bound to investigate that the funds you are using to acquire a property (whether it be the deposit for exchange or the total purchase price where you are buying without a mortgage) has originated from a reputable source (such as an inheritance) as opposed to the proceeds of illegitimate activity.
My wife and I have a 4 bedroom Georgian house in Mottingham. Conveyancing lawyer represented me and Accord Mortgages Ltd. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold under the matching property. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Mottingham and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with the conveyancing practitioner who conducted the conveyancing.
I am buying a new build house in Mottingham with a loan from Birmingham Midshires. The developers would not move on the price so I negotiated £7000 of extras instead. The house builders rep suggested that I not to tell my conveyancer about this side-deal as it would affect my mortgage with Birmingham Midshires. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
How easy is it to use the search tool to locate a conveyancing lawyer in Mottingham on the panel for my lender?
1st pick a bank such as Nationwide Building Society, The Royal Bank of Scotland or Barclays Direct then specify your location such as Mottingham. Conveyancing firms in Mottingham and further afield should be listed.
What advice can you give us when it comes to finding a Mottingham conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Mottingham conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Mottingham conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be useful:
-
How familiar is the firm with lease extension legislation? What are the charges for lease extension conveyancing?
We have reached the end of our tether in trying to reach an agreement for a lease extension in Mottingham. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We are happy to put you in touch with a Mottingham conveyancing firm who can help.
An example of a Lease Extension decision for a Mottingham property is 49 Woodstock Court Burnt Ash Hill in May 2012. the payment of £64,116 by the leaseholder was the premium which the Tribunal found due for the lease extension in this case. This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 23.26 years.