My fiance and I are hoping to acquire a flat in Daventry and have instructed a Daventry conveyancing practice. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Platform Home Loans Ltd have this afternoon contacted us to inform me that they have now hit a problem as our Daventry solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is usual for the purchasers' lawyers to also act for the mortgage company. 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 Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Daventry lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Are you able to suggest a Bank of Scotland sanctioned Daventry conveyancing conveyancer finish our house move within under 3 weeks? Am I best advised to go for a local Daventry conveyancer or a nationwide firm?
We would be happy to suggest some excellent Daventry conveyancing firms. You can also walk up the main road in Daventry. Go in to a couple of law practices and ask to speak with a conveyancing solicitor for a fee estimate. Discuss your expectations together with the reasons and get a commitment on speed. Select the one that you are most comfortable with.
In what way does my ID and proof of funds have anything to do with my conveyancing in Daventry? Why is this being asked of me?
Daventry conveyancing solicitors as well as nationwide property lawyers accross the UK have an obligation under money laundering regulations to check the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to provide two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and evidence of address (usually a Utility Bill less than 3 months old).
Evidence of source of monies is also required in accordance with the money laundering laws as conveyancers are obliged to check that the funds you are using to acquire a property (be it the exchange deposit or the total purchase price if you are a cash purchaser) has originated from legitimate source (such as employment savings) and is not the proceeds of criminal activity.
I require quick conveyancing in Daventry as I am faced with pressure to exchange contracts inside 4 weeks. Thankfully I do not need a mortgage. Can I decline from having conveyancing searches to save fees and time?
If.Given you are are a mortgage free buyer you are at liberty not to do searches although no solicitor would advise that you don't. Drawing on our experience of conveyancing in Daventry the following are examples of issues that can be revealed and adversely impact future saleability: Enforcement Actions, Overdue Fees, Overdue Grants, Unadopted Roads,...
Just had an offer accepted on a new build apartment in Daventry. 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.
Set out below is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Daventry
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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. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are surveyor prepared.
I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Daventry. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
The majority of houses in Daventry are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Daventry so you should seriously consider shopping around for a Daventry conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your solicitor should report to you on the legal implications.