IfI were to acquire a simple residential propertyin Higham Ferrers for cash and have no survey and no conveyancing searches how much should I expect to have to pay for conveyancing in Higham Ferrers?
The only reduction in fees you would make on is the costs for searches. A property lawyer is obliged to do the vast majority of work - money laundering, liaising with your vendors lawyer, SDLT submission, register the title etc. You might save a bit for them not needing to register a charge however it won't be a lot.
What does my ID and proof of funds have anything to do with my conveyancing in Higham Ferrers? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Higham Ferrers conveyancing firm will require proof of identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility account showing where you reside.
In accordance with Money Laundering Regulations, conveyancers are duty bound to check not simply the ID of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this may result in your solicitor ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to notify the appropriate authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.
I am considering applying for a Nationwide mortgage for purchase of a new build (under development) in Higham Ferrers with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Nationwide ?
There is nothing to stop you using your solicitor, but Nationwide will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Do commercial conveyancing searches reveal proposed roadworks that may impact a commercial site in Higham Ferrers?
Its becoming the norm that commercial conveyancing solicitors in Higham Ferrers 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 Higham Ferrers. The search result sets out definitive information 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 Higham Ferrers.
For every commercial conveyancing transaction in Higham Ferrers 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 can cause delays to Higham Ferrers commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Higham Ferrers.
The estate agent has sent us the confirmation of our purchase of a new build flat in Higham Ferrers. Conveyancing is necessary evil 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 are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Higham Ferrers
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I have read on various online forums that when selecting a conveyancing lawyer they must be approved by your bank. This is my first house move but I have an offer in principle from Santander and I already have a high street conveyancing solicitor in Higham Ferrers on standby. Does HSBC need an approved conveyancer to be instructed? Does a directory of panel conveyancers even exist for my conveyancing in Higham Ferrers?
You need to choose a solicitor that is on the HSBC panel. The simplest thing to do is ring your chosen Higham Ferrers conveyancing solicitor and ask if they are on the HSBC panel. If they are not approved you have a number of choices open to you here:
- Carry on with your existing Higham Ferrers lawyer but HSBC will need to instruct a lawyer on their conveyancing panel. The net impact is additional fees together with probable interruption.
- Appoint a new lawyer to conduct the conveyancing, obviously checking they are on the HSBC conveyancing panel.
- Convince your lawyer to do everything within their powers to get listed on the HSBC panel of solicitors.