Am I correct in assuming that the fact that my solicitor in Godalming is not listed on my mortgage company's conveyancing panel that there is a problem with the quality of the firm’s work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Godalming conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
In what way does my ID and proof of funds have anything to do with my conveyancing in Godalming? Is this really warranted?
In order to comply with Money Laundering Regulations any Godalming conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility bill showing your correct address.
In accordance with Money Laundering Regulations, conveyancing solicitors are obliged by law to check not simply the ID of conveyancing clients but also the source of monies that they receive in respect of any matter. An unwillingness to disclose this will result in your solicitor cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to notify the appropriate authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.
My wife and I purchased a semi-detached Georgian property in Godalming. Conveyancing practitioner acted for me and Lloyds TSB Bank. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold under the exact same property. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Godalming and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with your conveyancing lawyer who conducted the conveyancing.
How does conveyancing in Godalming differ for newly converted properties?
Most buyers of new build property in Godalming approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Godalming tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Godalming or who has acted in the same development.
Taking into account that I will soon spend 450k on a two bedroom apartment in Godalming I would like to have a conversation with the conveyancer about mytransaction ahead of giving the go ahead to the firm. Can this be arranged?
This is something that we recommend - it is our preference to talk to you we do not take any clients on without you speaking to the lawyer who will be doing your conveyancing in Godalming.There is no ‘factory style conveyancing’ - every client is an important individual, not a matter number. The solicitors that we put you in touch with believe that the fees you are quoted for residential conveyancing in Godalming should be the amount on the final invoice that you end up paying.
Can you offer any advice when it comes to finding a Godalming conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Godalming conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Godalming conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be of use:
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How many lease extensions have they conducted in Godalming in the last twenty four months? Can they put you in touch with clients in Godalming who can give a testimonial?
Leasehold Conveyancing in Godalming - Examples of Queries before buying
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For many Godalming leaseholds the cost for major works tend not to be built into the service charges, although there some managing agents in Godalming ask tenants to contribute towards a sinking fund created for the specific purpose of building a fund for larger works. The best form of lease arrangement is a share of the freehold. In this situation the leaseholders benefit from being in charge if their destiny and although a managing agent is usually retained if it is bigger than a house conversion, the managing agent employed by the leaseholders. Who manages the building?