My wife and I are planning to buy a flat in Speke and are in fact using a Speke conveyancing practice. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. HSBC Bank have this afternoon contacted us to advise us that they have now hit a problem as our Speke conveyancer is not on their approved list of lawyers. Is this a problem?
Where you are buying a property with the assistance of a mortgage it is conventional for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Speke solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
My husband and I are acquiring a newly constructed apartment in Speke and my solicitor is telling me that she is duty bound to the lender to reveal incentives from the seller. The Estate Agents are hassling me to exchange contracts and I have no desire to prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
In what way does my ID and proof of funds have anything to do with my conveyancing in Speke? What am I being asked for?
Speke conveyancing solicitors and indeed property lawyers throughout the UK have an obligation under money laundering regulations to verify the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and proof of address (usually a Bank Statement no more than three months).
Confirmation of the origin of monies is also necessary under the money laundering statutes as conveyancers are duty bound to check that the funds you are utilising to acquire a property (be it the exchange deposit or the full purchase price where you are buying without a mortgage) has come from a reputable source (such as an inheritance) as opposed to the fruits of illegitimate behaviour.
I am helping my mother sell her house in Speke. Will the conveyancing solicitor commission the EPC or it is for me to see to?
After the demise of HIPs, energy assessments was kept a compulsory component of moving property. An energy performance certificate should be commissioned in advance of the property being advertised. It is not something that law firms ordinarily arrange. Where you are using a Speke conveyancing solicitor they might be able to arrange energy assessments given their contacts with reputable Speke assessors
I am aiming to move property in April. Will my conveyancing solicitor liaise with the removal company on the day of completion. Incidentally, can you recommend a removal company in Speke. Conveyancing solicitor was chosen prior to coming across this website.
On the afternoon of completion you will need to pick up the house keys from the property agent but this should only occur when the previous owners solicitors inform the agent that they acknowledge receipt of the completion payment and the keys can be collected. You will need to inform the removal men that they can start moving you in. We are not in a position to suggest a specific removal company but can help you find a residential property solicitor in Speke or a solicitor with expertise in conveyancing in Speke.
We have a mortgage agreed in principle with Bank of Ireland. Speke conveyancing lawyers are chosen. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
Some lenders take longer than others. Have Bank of Ireland done the valuation? Have you informed Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I used Arc property Solicitors a few years past for my conveyancing in Speke. Now, I need the documents but cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Speke of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Can you provide any advice for leasehold conveyancing in Speke with the intention of expediting the sale process?
- Much of the delay in leasehold conveyancing in Speke can be avoided where you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers’ representatives. If you are supposed to have a share in the freehold, you should ensure that you hold the original share certificate. Organising a duplicate share certificate can be a time consuming process and frustrates many a Speke conveyancing deal. Where a new share certificate is needed, you should approach the company officers or managing agents (where applicable) for this sooner rather than later. The majority of landlords or Management Companies in Speke levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Speke. Some Speke leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors. If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be warry about purchasing a property where a dispute is unresolved. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to ongoing.
Speke Leasehold Conveyancing - Sample of Questions you should consider Prior to buying
In the main the outlay for major works tend not to be incorporated into the service charges, albeit that some managing agents in Speke require tenants to contribute towards a reserve fund and this is used to offset against major works. How much is the ground rent and service charge? Are there any major works in the planning that could add a premium to the maintenance fees?