What does my ID and proof of funds have anything to do with my conveyancing in Ripponden? Why is this being asked of me?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to check the identity of the person or body they are dealing with before they can accept their conveyancing retainer. The Terms and Conditions that you need to sign should stipulate this. Your lender will also require certain documents to be checked. If you are unwilling to hand over ID verification documents, your conveyancer would not be able to accept instructions from you.
If you had a top tip for selecting a conveyancing solicitor in Ripponden what would it be?
We would encourage you not to go for the cheapest Ripponden conveyancing fees. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
is it true that all Ripponden conveyancing solicitors on the Nottingham conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Nottingham approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many mortgage companies do list licenced conveyancers on their panel and in such a situation the organisation would be regulated by the Council of Licensed Conveyancers.
I am selling my house. I had a double glazing fitted in March 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Leeds Building Society are being difficult. The Ripponden solicitor who is on the Leeds Building Society conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Leeds Building Society are requiring a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I am purchasing my first flat in Ripponden with the aid of help to buy. The builders refused to move on the amount so I negotiated five thousand pounds worth of extras instead. The sale representative told me not to tell my conveyancer about this deal as it could impact my mortgage with the lender. Is this normal?.
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.
Taking into account that I am about to spend £400,000 on a two bedroom apartment in Ripponden I would like to have a conversation with the conveyancer regarding thehouse move in advance of instructing the firm. Is this something that you can arrange?
We could not agree more - we would be happy to talk to you we do not take any clients on without you speaking to the lawyer due to be conducting your conveyancing in Ripponden.There is no ‘factory style conveyancing’ - each client is an important individual, not a case number. The law firms that we put you in touch with believe that the figure you are provided with for your conveyancing in Ripponden should be the figure that you end up paying.
Is it best to use a Ripponden conveyancing practitioner in close proximity to the house I am purchasing? An old friend can deal with the legal work however his firm is located 300kilometers drive away.
The benefit of a high street Ripponden conveyancing firm is that you can drop in to execute documents, hand in your identification documents and apply pressure on them where appropriate. They will also have local knowledge which is a bonus. That being said it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and they were content that must outweigh using an unfamiliar Ripponden conveyancing solicitor solely due to them being round the corner.
I am attracted to a couple of flats in Ripponden both have about 50 years left on the lease term. Will this present a problem?
There is no doubt about it. A leasehold apartment in Ripponden is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the value of the premises. The majority of purchasers and lenders, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Ripponden conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I purchased a 2 bed flat in Ripponden, conveyancing formalities finalised in 1998. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Ripponden with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 levied per year. The lease runs out on 21st October 2085
You have 60 years unexpired we estimate the price of your lease extension to range between £20,000 and £23,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.