Much to our surprise we have been told by our mortgage broker that my Welwyn Garden City lawyer is not on the lender Conveyancing panel. How can I check?
You need to contact your Welwyn Garden City lawyer directly. You lawyer should inform you of the situation. Where they are not on the panel they may recommend you to a Welwyn Garden City conveyancing practice that is on the approved list of lawyers for your bank.
I have given 2 months notice to my current landlord and must be out of my rented property in Welwyn Garden City by the end of next month. Conveyancing on my purchase is underway. Is it possible to complete in six weeks as don't want to have to find temporary accommodation?
Generally one should not serve notice for your tenancy until exchange of contracts has taken place. If you have not previously done so, speak to your lawyer and ask them to they cajole the other solicitors, try to an acceptable time-line that all parties will work towards
In what way does my ID and proof of funds have anything to do with my conveyancing in Welwyn Garden City? Is this really necessary?
It is indeed that case that these requests have nothing to do with conveyancing in Welwyn Garden City. Nowadays you will not be able to proceed with any conveyancing deal in the absence providing proof of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a utility bill. Please note that if you are supplying your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable in the absence of the other.
Evidence of your origin of monies is necessary under Money Laundering Regulations. Please do not be offended when you are asked to produce this as your lawyer must retain this information on record. Your Welwyn Garden City conveyancing solicitor will need to see evidence of proof of funds prior to accepting any money from you into their client account and they may also ask further queries concerning the source of monies.
I'm the only recipient of my late father’s estate and I have everything in my name now, including the my former home in Welwyn Garden City. The Welwyn Garden City property was put into my name in May. I plan to dispose of the property. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship will be considered the same way as if I'd bought the house in May. Do I have to wait half a year to sell?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. Most lenders would take a pragmatic view as this provision principally exists to pick up on subsales or the flipping of properties.
We were going to get a DIP from Virgin Money this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Virgin Money recommend any Welwyn Garden City solicitors on the Virgin Money conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Welwyn Garden City solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
My sealed bid on a semi in Welwyn Garden City has been accepted, but there is a chain. The vendors have placed an offer on somewhere, but it’s not yet agreed to, and are looking at other flats in the pipeline. I have chosen a local conveyancing solicitor in Welwyn Garden City. What should be my next step? When should I get the mortgage application with UBS going?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of one thousand pounds, then survey, Welwyn Garden City conveyancing search costs, etc). First, you should ensure that your lawyer is on the UBS conveyancing panel. Regarding the subsequent phase this very much depends on the uniqueness of your case, desire for this property and on the state of the market. During a hot market many purchasers will apply for the mortgage with UBS and pay for the valuation and only if it was satisfactory would they request their conveyancer to move forward with searches.
Am I best advised to appoint a Welwyn Garden City conveyancing lawyer who is local to the property I am buying? We have a good friend who can perform the legal work but his firm is located 400miles away.
The benefit of a high street Welwyn Garden City conveyancing practice is that you can drop in to sign paperwork, hand in your ID and apply pressure on them where appropriate. Having local Welwyn Garden City know how is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and the majority were happy that should trump using an unfamiliar Welwyn Garden City conveyancing lawyer just because they are based in the area.
I only have 68 years remaining on my lease in Welwyn Garden City. I now wish to get lease extension but my landlord is can not be found. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to prove that you have made all reasonable attempts to track down the landlord. For most situations a specialist may be helpful to conduct investigations and to produce a report to be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Welwyn Garden City.
I invested in buying a split level flat in Welwyn Garden City, conveyancing having been completed 4 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Welwyn Garden City with a long lease are worth £180,000. The ground rent is £65 per annum. The lease ends on 21st October 2083
With only 58 years left to run we estimate the premium for your lease extension to be between £21,900 and £25,200 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.