Having been suggested to visit your company we were going to go ahead with a conveyancing solicitor in Colchester endorsed by you but have come across some other fee calculations on the internet seem less pricey – how come?
There are numerous solicitors advertising what appear to be very low prices. You should think long and hard about how important this transaction is to you that you are willing to be penny wise pound foolish concerning the standard of the conveyancing. Many of them list a cheap quote to entice you but hide supplemental charges in the fine print..
In what way does my ID and proof of funds have anything to do with my conveyancing in Colchester? Is this really warranted?
It is indeed that case that these requests have nothing to do with conveyancing in Colchester. Nowadays you can not proceed with any conveyancing transaction without first submitting proof of your identity. Ordinarily this takes the form of a either your passport or driving licence and a council tax bill. Please note that if you are providing your driving licence as evidence of identification it must be both the paper section and photo card part, one is not satisfactory without the other.
Proof of the origin of money is necessary in accordance with the Money Laundering Regulations. You should not be offended when when this is requested of you as your conveyancing solicitor must retain this information on file. Your Colchester conveyancing practitioner will require evidence of proof of funds prior to accepting any monies from you into their client account and they may also ask further queries concerning the source of monies.
We're in Colchester, First timers purchasing with a mortgage (lender is Nottingham , and our solicitor is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Is it correct that all Colchester CQS (Conveyancing Quality Scheme) solicitors are on the Bank of Ireland conveyancing list of approved firms?
It is true that some banks and building societies now utilise CQS as the kick off point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
We previously selected conveyancing lawyers locally in Colchester on the Bank of Ireland solicitor panel. They have just invoiced me a further charge for dealing with the Bank of Ireland mortgage. Is this an additional conveyancing fee specified by Bank of Ireland?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your lawyer is entitled to charge a fee for this. This fee is not set by Bank of Ireland but by your Colchester lawyer. Plenty of firms on the Bank of Ireland panel will quote an ‘acting for lender’ fee and others do not.
My husband and I are spending time looking at apartments in Colchester and I am now considering a potential offer. Is it advisable to have a conveyancing practitioner on ‘stand by’? I intend to finance via a mortgage with Nottingham.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. As you are obtaining a mortgage with Nottingham, ask your prospective lawyers if they are on the Nottingham conveyancing panel otherwise they can't do the mortgage legal work.
My colleague suggested that where I am purchasing in Colchester I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually included in the estimate for your Colchester conveyancing searches. It is a large document of more than thirty pages, listing and setting out significant information about Colchester around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Colchester Education with maps and statistics, Local Amenities and other useful information regarding Colchester.
I am buying a new build flat in Colchester. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Colchester
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.