I am selling my home in Dursley and the EA has just telephoned to advise that the purchasers are changing their conveyancer. The excuse is that the mortgage company will only deal with solicitors on their approved list. On what basis would a leading lender only deal with specific solicitors rather the firm that they want to select for their conveyancing in Dursley ?
Lenders have always had an approved set of law firms they are content to work with, but in recent years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Banks point to the increase in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any impact on this.
What does my ID and proof of funds have anything to do with my conveyancing in Dursley? Why is this being asked of me?
Dursley conveyancing solicitors as well as nationwide property practitioners throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to check the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to produce two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and proof of address (typically a Bank Statement less than 3 months old).
Evidence of the origin of funds is also required under the money laundering statutes as conveyancers are mandated to check that the monies you are utilising to buy a property (be it the exchange deposit or the full purchase amount where you are buying mortgage free) has originated from a reputable source (such as an inheritance) as opposed to the proceeds of criminal activity.
Do commercial conveyancing searches disclose impending roadworks that could impact a commercial site in Dursley?
Many commercial conveyancing solicitors in Dursley will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Dursley. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Dursley.
For each commercial conveyancing transaction in Dursley it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could cause delays to Dursley commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Dursley.
My husband and I are first time buyers - had an offer accepted, but the selling agent has warned us that the owners will only move forward if we instruct the agent's chosen conveyancers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a high street solicitor used to conveyancing in Dursley
We suspect that the owner is not behind this ultimatum. Should the vendor want ‘a quick sale', alienating a genuine purchaser is going to damage their objectives. Avoid the agents and go straight to the sellers and make the point that (a)you are genuine buyers (b)you are excited to move forward, with finances in place © you do not need to sell (d) you wish to move quickly (e)but you are going to use your own,trusted Dursley conveyancing lawyers - not the ones that will give the negotiator at the agency a introducer fee or achieve conveyancing thresholds set by corporate headquarters.
I am employed by a busy estate agency in Dursley where we have witnessed a few flat sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Dursley conveyancing firms. Could you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I purchased a leasehold flat in Dursley, conveyancing formalities finalised 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Dursley with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease terminates on 21st October 2095
With only 69 years left to run we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.
How does one remove a deceased person's name from the title register for a house in Dursley?
Where a Dursley property is co-owned and one of the proprietors passes away, their name will not immediately be removed from the Land Registry title. It is not necessary to remove their name as in the event of a disposal you would just need to evidence as to the reason the joint owner is missing from the transfer, such as a grant of probate.
With the aim of making the sale conveyancing simpler in the future you may arrange to have the deceased name removed from the title by applying to HMLR with proof of the death. There is no fee from the Registry for this service.