I was advised yesterday by my IFA that my Preston the law firm I have appointed is not on the lender Conveyancing panel. What can I do to be certain whether this is indeed the case?
You need to contact your Preston conveyancer. It is reasonable to expect your lawyer to notify you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
What does my ID and proof of funds have anything to do with my conveyancing in Preston? Why is this being asked of me?
It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Preston. However these days you will not be able to proceed with any conveyancing process in the absence supplying evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a council tax bill. Remember if you are supplying your driving licence as proof of identification it must be both the paper section and photo card part, one is not satisfactory without the other.
Verification of the source of money is mandated under Money Laundering Regulations. Don’t be offended when when this is requested of you as your lawyer must have this information on record. Your Preston conveyancing solicitor will need to see evidence of proof of funds prior to accepting any money from you into their client account and they should also ask further questions regarding the origin of funds.
We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would much rather use a specialised conveyancing solicitor in Preston?
Do check but the the likelihood is that allocate you one of their panel solicitors if you want the "fee-free" offer. Speak to the bank and ask if they allow a monetary alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor near Preston.
What can a local search inform me concerning the house we're purchasing in Preston?
Preston conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search company for instance Searches UK The local search plays an important role in many a Preston conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your property. The search will reveal information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
My partner has suggested that I instruct his conveyancing solicitors in Preston. Should I use them?
There are no two ways about it the best way to choose a conveyancing solicitor is to seek guidance from friends or family who have previously instructed the solicitor you're contemplating using.
I am a negotiator for a long established estate agency in Preston where we have experienced a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Preston conveyancing firms. Can you shed some light as to whether the owner of a flat can instigate the lease extension process for the buyer?
Provided that the seller has owned the lease 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. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord 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 own a second floor flat in Preston. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
if there is a missing freeholder or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to judgment on the price.
An example of a Lease Extension decision for a Preston flat is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case affected 1 flat. The unexpired term as at the valuation date was 74 years.