Am I correct in assuming that the fact that my conveyancer in Kilgetty is not identified on my lender's conveyancing panel that there is a problem with the standard of her conveyancing?
That would most likely be a wrong assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated that over three quarters 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. Where you are concerned you should simply call the Kilgetty conveyancing practice and enquire 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 Kilgetty? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Kilgetty conveyancing firm will require proof of identity in all conveyancing transactions. This is usually dealt with by provision of a passport and an original bank statement or utility account showing where you reside.
Under Money Laundering Regulations, conveyancers are obliged by law to investigate not only the ID of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this will result in your solicitor cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to inform the appropriate authorities should they consider that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
I have been recommended a conveyancing solicitor in Kilgetty. I I am struggling to find out if they are on the TSB conveyancing panel. Could you or the lender confirm if they are on the panel?
The first thing you should do is call your solicitor and ask them if they can act for the bank. Otherwise you can get in touch with TSB who may be able to confirm.
This question may be naive but I am unseasoned as a 1st time buyer of a garden flat in Kilgetty. Do I pick up the keys to the house on the completion date from my solicitor? If so, I will find a High Street conveyancing solicitor in Kilgetty?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the purchase money to the vendor’s lawyers, and shortly after the monies have arrived, you will be called to collect the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
Is there a list of Yorkshire BS panel conveyancers in Kilgetty on the UK Finance Lenders’ Handbook Website?
No. There is no such directory service on the CML or Building Society Association websites. A small selection of banks make their panel listings visible online. Where you are looking for a Kilgetty property lawyer on the Yorkshire BS please make the most of our facility.
Completion of my purchase has taken place for my property in Kilgetty. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I am buying a new build house in Kilgetty with the aid of help to buy. The developers refused to budge the amount so I negotiated 6k of additionals instead. The sale representative told me not inform my solicitor about this side-deal as it may affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Do you have any advice for leasehold conveyancing in Kilgetty from the point of view of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Kilgetty can be avoided if you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the purchasers’ solicitors. If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than ongoing. If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Organising a new share certificate can be a time consuming formality and slows down many a Kilgetty conveyancing deal. Where a duplicate share is necessary, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible. A minority of Kilgetty leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual 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.
I invested in buying a 1 bedroom flat in Kilgetty, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Kilgetty with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £45 levied per year. The lease expires on 21st October 2092
With 67 years remaining on your lease we estimate the premium for your lease extension to range between £10,500 and £12,000 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.