I have just been advised by my lender that my St Leonards On Sea lawyer is not on the lender Conveyancing panel. What can I do to be certain that this is indeed the case?
Your first step should be to call your St Leonards On Sea conveyancer. It is reasonable to expect your lawyer to inform you what has happened. If they are not on the panel they may be able to suggest a St Leonards On Sea conveyancing practice that is on the conveyancing panel for your mortgage company.
What does my ID and proof of funds have anything to do with my conveyancing in St Leonards On Sea? What am I being asked for?
St Leonards On Sea conveyancing solicitors as well as nationwide property practitioners accross the UK have an obligation under money laundering regulations to verify the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to provide two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill no older than three months).
Proof of the origin of funds is also required under the money laundering laws as lawyers are mandated to ensure that the money you are utilising to buy a property (be it the exchange deposit or the full purchase monies where you are a cash purchaser) has come from an acceptable source (such as an inheritance) and is not the proceeds of criminal behaviour.
My wife and I own a renovated Victorian house in St Leonards On Sea. Conveyancing lawyer represented me and Nottingham Building Society. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold with the exact same property. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register as there may be 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 St Leonards On Sea and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with the conveyancing practitioner who conducted the work.
I have been sourcing a conveyancing solicitor in St Leonards On Sea for my house move. Is there any facility to review a solicitor's record with the profession’s regulator?
You can find presented Solicitor Regulator Association (SRA) decisions arising from investigations from 2008 onwards. Visit Check a solicitor's record. To find details about the period before 1 January 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The regulator sometimes recorded call for training reasons.
Do you have any advice for leasehold conveyancing in St Leonards On Sea with the purpose of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in St Leonards On Sea can be avoided if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the buyers’ representatives. You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. If you hold a share in a the freehold, you should make sure that you hold the original share certificate. Organising a re-issued share certificate is often a lengthy process and delays many a St Leonards On Sea conveyancing transaction. Where a reissued share is required, you should approach the company officers or managing agents (where applicable) for this sooner rather than later. If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as over rather than unresolved. Many freeholders or Management Companies in St Leonards On Sea charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. 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 frequent cause of frustration in leasehold conveyancing in St Leonards On Sea.
I acquired a leasehold flat in St Leonards On Sea, conveyancing formalities finalised in 2010. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in St Leonards On Sea with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease expires on 21st October 2092
With only 66 years unexpired we estimate the price of your lease extension to range between £12,400 and £14,200 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the lender conveyancing panel. My lawyer has said that they are on the bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the lender solicitor panel.