My husband and I are hoping to purchase a property in Erdington and have appointed a Erdington conveyancing firm. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Clydesdale have this evening contacted us to advise us that they have now hit a problem as our Erdington conveyancer is not on their conveyancing panel. What do we do from here?
If you are buying a property requiring a mortgage it is normal for the purchasers' solicitors to also represent the purchaser's lender. 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 Accreditation 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 solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Erdington solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
What does my ID and proof of funds have anything to do with my conveyancing in Erdington? What am I being asked for?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Erdington. However these days you will not be able to proceed with any conveyancing deal if you have not providing proof of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a bank statement. Remember if you are providing your driving licence as evidence of identification it must be both the paper section as well as the photo card part, one is not acceptable without the other.
Evidence of your origin of monies is mandated under Money Laundering Regulations. Please do not be offended when when this is requested of you as your lawyer will need to have this information on record. Your Erdington conveyancing solicitor will need to see evidence of proof of funds before they are able to accept any funds from you into their client account and they should also ask additional queries regarding the origin of funds.
I am purchasing a new build house in Erdington with the aid of help to buy. The sellers would not budge the amount so I negotiated £7000 of extras instead. The sale representative suggested that I not to tell my conveyancer about this extras as it could put at risk my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Is there anything unique about your site and alternative online quote calculators when it comes to conveyancing in Erdington?
At this site receive a conveyancing quote from a Solicitor or Licensed Conveyancer that understands the nuances for your conveyancing in Erdington. Unlike many estate agents and brokerage sites we do not charge firms a commission if you instruct them for your property ownership legalities in Erdington
I am looking for a conveyancing practitioner in Erdington for my house move. Can I check a firm’s complaints history with the profession’s regulator?
Members of the public can see published Solicitor Regulator Association (SRA) decisions resulting from inquisitions started on or after 1 January 2008. Go to Check a solicitor's record. To find details Pre 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, call +44 (0)121 329 6800. The regulator may monitor telephone calls for training requirements.
Do you have any top tips for leasehold conveyancing in Erdington with the purpose of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Erdington can be reduced if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ lawyers. You believe that you know the number of years remaining on your lease but it would be advisable double-check via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is less than 75 years. It is therefore important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. A minority of Erdington leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors. If you have had conflict with your landlord or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be concerned about purchasing a property where a dispute is unsettled. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unresolved.
I inherited a basement flat in Erdington, conveyancing having been completed 10 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Erdington with an extended lease are worth £179,000. The ground rent is £65 invoiced every year. The lease expires on 21st October 2082
You have 57 years unexpired we estimate the price of your lease extension to range between £26,600 and £30,800 as well as costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.