What does my ID and proof of funds have anything to do with my conveyancing in Burwell? Is this really warranted?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to check the identification documents of the potential client they are dealing with prior to agreeing to accepting their conveyancing retainer. The Client Care letter that you need to sign should stipulate this. Your lender will also require certain documents to be viewed. Should you refuse to supply identification documents, your solicitor will not be able to take you on as a client.
What happens if my lawyer’s firm is removed from the RBS Solicitor panel ahead of completing my conveyancing in Burwell?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I am currently in the process of buying my council flat in Burwell. I have a mortgage offer with Bank of Ireland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
Completion of my remortgage has taken place for my property in Burwell. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
Co-operative have agreed my home loan in principle, my bid on a property in Burwell has been agreed to, what are the next steps?
Your property agent will wish to know who your solicitors are (ensure that the lawyers are on the lender’s panel). Call up Co-operative or the broker and finalise any relevant paperwork. Co-operative will sellect a valuer who will get in touch with the selling agent or vendor to arrange a time for the valuation to take place. Once carried out (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Co-operative will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Burwell.
The deeds to my home can not be found. The lawyers who handled the conveyancing in Burwell 10 years ago have long since closed. What are my options?
Gone are the days when you need to have the physical original deeds to establish that you are the registered proprietor of land or premises, given that the Land Registry have everything they need in a digital format.
My husband and I are 17 days into a residential purchase having been referred to conveyancers by the estate agent to perform conveyancing in Burwell. We are not happy. Could you you assist me in finding new solicitors?
A lawyer would have to be very poor in order to consider changing them. Has your mortgage been issued? In the event that it has you will need to advise them of the new contact details and have the mortgage documents are re-sent. Your solicitor ideally should be on the lenders panel to avoid added fees and frustration. So that should be your starting point. Our search tool can assist you in finding a lender approved conveyancer for your conveyancing in Burwell
I am looking at a two flats in Burwell both have about 50 years left on the lease term. Will this present a problem?
A lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena.
I invested in buying a 2 bed flat in Burwell, conveyancing was carried out March 2003. 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? Equivalent flats in Burwell with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 per annum. The lease runs out on 21st October 2080
With just 55 years unexpired the likely cost is going to range between £31,400 and £36,200 as well as legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.