In what way does my ID and proof of funds have anything to do with my conveyancing in Rawdon and Yeadon? What am I being asked for?
To satisfy the Money Laundering Regulations any Rawdon and Yeadon conveyancing firm will require proof of identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account showing where you reside.
In accordance with Money Laundering Regulations, conveyancing solicitors are duty bound to check not only the ID of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this will lead to your solicitor ending 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 inform the appropriate authorities should they believe that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
What happens if my solicitor is expelled from the Virgin Money Solicitor panel ahead of completing my conveyancing in Rawdon and Yeadon?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I purchased my flat on 4 June and the transaction details are still not on the land registry website. Should I be concerned? My conveyancing solicitor in Rawdon and Yeadon expressed confidence that it will be concluded in a couple of weeks. Are titles in Rawdon and Yeadon uniquely lengthy to register?
As far as conveyancing in Rawdon and Yeadon is concerned, registration is no faster or slower than the rest of England and Wales. Rather than based on location, timeframes can vary according to who lodges the application, whether it is in order and if the Land registry communicate with any interested parties. At present approximately three quarters of such applications are completed in less than three weeks but some can be subject to protracted hold-ups. Registration occurs after the new owner is living at the property so 'speed' is not typically top priority but if it is urgent that the the registration takes place urgently then you or your lawyers must speak with the land registry and explain the circumstances.
How does conveyancing in Rawdon and Yeadon differ for newly converted properties?
Most buyers of new build property in Rawdon and Yeadon approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Rawdon and Yeadon tend to acquire the land, 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 used to new build conveyancing in Rawdon and Yeadon or who has acted in the same development.
I would like to rent out my leasehold apartment in Rawdon and Yeadon. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
The lease governs the relationship between the freeholder and you the leaseholder; in particular, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Rawdon and Yeadon do not prevent subletting altogether – such a provision would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
I acquired a garden flat in Rawdon and Yeadon, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Rawdon and Yeadon with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 levied per year. The lease terminates on 21st October 2077
With only 52 years remaining on your lease we estimate the premium for your lease extension to be between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.
My partner and I are acquiring a ground floor flat in Rawdon and Yeadon. When we first instructed conveyancing practitioner, they said that they were on all mainstream mortgage company panels. The financial adviser called yesterday to say that they are not on the Skipton approved list. Were it to be true, what should we do? Do we simply pick a new property lawyer that is on their panel or do we pay for separate representation, with Skipton appointing their own preferred conveyancing practitioner.
If you are purchasing a property needing a mortgage it is conventional for the purchaser’s solicitors to also represent the purchaser's lender. In order to act for a bank or building society a conveyancer has to be on that lender's conveyancing panel. An application has to be made by the lawyer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the solicitor has to meet. Some mortgage companies now insist their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your conveyancer should call Skipton to find out 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 don't have to instruct a firm on Skipton's conveyancing panel as you are at liberty to use your preferred Rawdon and Yeadon lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another solicitor into the equation.