In what way does my ID and proof of funds have anything to do with my conveyancing in South Shields? What am I being asked for?
It is indeed that case that these requests have nothing to do with conveyancing in South Shields. Nowadays you will not be able to complete any conveyancing transaction without first handing over evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence and a council tax bill. Remember if you are supplying your driving licence as evidence of identification it must be both the paper part as well as the photo card part, one is not sufficient without the other.
Evidence of the source of monies is required under Money Laundering Regulations. You should not be offended when when this is requested of you as your conveyancing solicitor must have this information on record. Your South Shields conveyancing practitioner will require evidence of proof of funds prior to accepting any monies from you into their client account and they will also ask additional questions concerning the source of monies.
In scouring mumsnet.com for a cheap lawyer in South Shields, most comment that I should use a CQS kitemarked lawyer. Can you explain what CQS is?
South Shields Conveyancing Quality Scheme solicitors have achieved accreditation by the law Society CQS was established to establish evidence of quality standards in the home buying process. CQS enables consumers to recognise solicitor firms who provide a quality residential conveyancing. South Shields is one of the many areas in England and Wales in which accredited firms are based. The conveyancing scheme requires law firms to undergo a strict assessment, compulsory training, self-certification, random audits and annual reviews in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Legal Ombudsman.
This question may be naive but I am wet behind the ears as a 1st time purchaser of a ground floor flat in South Shields. Do I receive the keys to the premises on the completion date from my solicitor? If this is the case, I will appoint a High Street conveyancing solicitor in South Shields?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the completion advance to the vendor’s lawyers, and shortly after the monies have arrived, you will be called to receive the keys from the Estate Agents and move into your new home. Usually this happens early afternoon.
We had selected solicitors located in South Shields on the Barclays solicitor panel. They are now charging me a further sum for handling the Barclays mortgage. Is this an additional conveyancing fee set by Barclays?
Provided it is contained in their Terms of Engagement or Quote then yes your conveyancing practitioner can charge a fee for this. This fee is not dictated by Barclays but by your South Shields conveyancing practitioner. Plenty of firms on the Barclays panel will charge ’dealing with mortgage’ fee but many practices include it on their overall fee.
Principality have agreed my mortgage in principle, my offer on a apartment in South Shields has been agreed to, what happens next?
The estate agent will want to know who your solicitors are (be sure the conveyancers are on the lender’s panel). Contact Principality or your financial adviser and finalise any appropriate paperwork. Principality will appoint a valuer who will get in touch with the estate agent or seller to book a slot for the valuation to take place. Once carried out (assuming no problems) it takes on average ten days to get a mortgage offer. Principality will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in South Shields.
Just had an offer accepted on a new build apartment in South Shields. Conveyancing is daunting 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 legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in South Shields
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Please confirm the Lease plans are surveyor prepared. Forfeiture - bankruptcy or liquidation must not apply under this provision. 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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I have been sourcing a conveyancing solicitor in South Shields for my house move. Is there any facility to see a firm’s complaints history with the legal regulator?
One may see presented Solicitor Regulator Association (SRA) decisions stemming from investigations started on or after 1 January 2008. Go to Check a solicitor's record. For details about the period before 1 January 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The regulator could monitor call for training reasons.
In relation to leasehold conveyancing in South Shields what are the most common lease problems?
There is nothing unique about leasehold conveyancing in South Shields. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:
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Repairing obligations to or maintain elements of the building
You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Coventry Building Society, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.
I acquired a 1st floor flat in South Shields, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Similar flats in South Shields with over 90 years remaining are worth £201,000. The average or mid-range amount of ground rent is £45 per annum. The lease ceases on 21st October 2090
With just 65 years remaining on your lease the likely cost is going to range between £13,300 and £15,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.