We hired a high street lawyer for my conveyancing in Selhurst today. Upon checking the fine print I seewe are responsible for charges even if the sale aborts. Should I ditch them and appoint an on-line solicitor practice offering no completion no cost conveyancing in Selhurst?
It is usually a trade off in that if "No Completion No Fee" is offered then the conveyancing charges will generally be higher to neutralise the conveyances that abort. Also remember that such arrangements generally do not protect you from outlay e.g. Selhurst conveyancing search expenses.
My husband and I are only a couple days away from an exchange on a property in Selhurst and my parents have sent the ten percent deposit to my property lawyer. I am now told that as the deposit has been received from someone other than me my conveyancing practitioner needs to disclose this to my bank. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the lender regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
Your lawyer is duty bound to check with mortgage company to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
In what way does my ID and proof of funds have anything to do with my conveyancing in Selhurst? Why is this being asked of me?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the ID of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you are required to sign should stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you refuse to supply identification documents, your lawyer would not be able to accept instructions from you.
I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a simple, no chain conveyancing. Selhurst is the location of the property. Can you offer any opinion?
Flying freeholds in Selhurst are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Selhurst you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Selhurst may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Do you have any top tips for leasehold conveyancing in Selhurst from the perspective of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Selhurst can be avoided if you instruct lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information which will be required by the buyers’ conveyancers. If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Organising a duplicate share certificate is often a time consuming process and slows down many a Selhurst conveyancing deal. Where a reissued share is necessary, you should approach the company officers or managing agents (where relevant) for this sooner rather than later. If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You will have to accept that you will have to 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 details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than unresolved. Some Selhurst leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are able to meet 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 lawyers. In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Selhurst leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. Should you fail to have the paperwork to hand do not communicate with the landlord without checking with your lawyer before hand.
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Selhurst conveyancing firm to help?
Most certainly. We are happy to put you in touch with a Selhurst conveyancing firm who can help.
An example of a Lease Extension case for a Selhurst property is Flats 55, 67 & 70 Melbourne Court Anerley Road in July 2013. The tribunal calculated that the premium for the extended lease at £48,366.00 for at 55, and £88,329.00 for ats 67 and 70 combined. This case related to 1 flat. The unexpired residue of the current lease was 26.38 years.
Our conveyancer in Selhurst has requested from me proof of ID documents saying that this is part of his obligations as a conveyancer on the lender Conveyancing panel. Can you confirm whether this is the case?
Anti-terror and anti-money-laundering rules require Selhurst conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that the mortgage company also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the mortgage company's UK Finance Lenders’ Handbook requirements