I am hoping to move into my new home in Rolleston On Dove next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the lender. What risks does the bank expect the insurance to cover?
Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 requirements. These requirements are not specific to conveyancing in Rolleston On Dove.
What does my ID and proof of funds have anything to do with my conveyancing in Rolleston On Dove? Why is this being asked of me?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Rolleston On Dove. However these days you can not complete any conveyancing transaction without first supplying evidence of your identity. This usually takes the form of a either your passport or driving licence plus a bank statement. Please note that if you are providing your driving licence as proof of ID it must be both the paper section as well as the photo card part, one is not satisfactory in the absence of the other.
Evidence of the origin of funds is required in accordance with the Money Laundering Regulations. Don’t be offended when you are asked to produce this as your conveyancing solicitor must have this information on file. Your Rolleston On Dove conveyancing practitioner will require evidence of proof of funds before they are able to accept any money from you into their client account and they should also ask further queries regarding the source of funds.
I am purchasing a property in Rolleston On Dove. A rare aspect is that the roof has a solar panel. Barclays have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Barclays your lawyer must comply with the conveyancing requirements set out in Section 2 of UK Finance Lenders’ Handbook for Barclays. The Council of Mortgage Lenders’ Handbook sets out minimum specifications for solar panel roof-space leases, and conveyancers are required to report to Barclays where a lease fails to comply with these conditions. The provisions relate to the installation of panels on properties nationwide and is not isolated to Rolleston On Dove.
I have paid off my mortgage with Santander. I assume I don't need a Rolleston On Dove conveyancer on the Santander panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Santander mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Santander mortgage from the register. Santander, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Santander has sent the Land Registry the discharge electronically, and
- Santander has instructed the Land Registry to do so
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Rolleston On Dove bank branch on various occasions and was reassured it wasn't a problem and they will lend. My Rolleston On Dove conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend in accordance with their specific requirements. Who do I believe?
As long as the lawyer is on the bank approved list, she or he must follow the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the lender 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
As co-executor for the will of my grandfather I am selling a property in Cardiff but reside in Rolleston On Dove. My conveyancer (who is 260 miles awayrequires that I execute a statutory declaration before the transaction finalising. Could you suggest a conveyancing solicitor in Rolleston On Dove who can witness this legal document for me?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are Rolleston On Dove based
All being well we will complete the disposal of our £150,000 flat in Rolleston On Dove in just under a week. The freeholder has quoted £336 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Rolleston On Dove?
Rolleston On Dove conveyancing on leasehold maisonettes normally involves the buyer’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries the majority will be willing to do so. They are entitled to levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it is above £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, otherwise the invoice is technically not due. Reality however dictates that you have little option but to pay whatever is demanded if you want to complete the sale of your home.
I purchased a split level flat in Rolleston On Dove, conveyancing was carried out July 2011. How much will my lease extension cost? Comparable flats in Rolleston On Dove with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 per annum. The lease finishes on 21st October 2092
With just 68 years remaining on your lease the likely cost is going to be between £9,500 and £11,000 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
Our lenders have just issued us with a mortgage offer. We have retained a long established conveyancer in Rolleston On Dove two days ago. A couple of hours ago, our financial adviser phoned to advise us that the mortgage company said that we cannot use our solicitor as they aren't on their panel. As FTB's, we did not have a clue that the mortgage company had a say Is this usual?
You are permitted to instruct any lawyer you want to select including the said conveyancer in Rolleston On Dove but if they are not on the your bank's panel you would have to fork out an extra fee so your lender can appoint their own conveyancer too. sometimes it is conceivable that your preferred conveyancing firm to get added to the bank panel. Do make the most of internet tools including lenderpanel.com to find a conveyancing solcitor in Rolleston On Dove on the lender panel. You can go into your local mortgage company branch in Rolleston On Dove. They will know some good conveyancing solicitors in Rolleston On Dove on the approved list.