Our solicitor has uncovered a a problem with the lease for the flat we are purchasing in Syston. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer has advised that he must be satisfied that the mortgage company is happy with this solution. Who is the client here, us or the lender?
Notwithstanding that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. The appropriate lender provisions have to be complied with.
What does my ID and proof of funds have anything to do with my conveyancing in Syston? Is this really warranted?
In order to comply with Money Laundering Regulations any Syston conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility bill showing your correct address.
Under Money Laundering Regulations, conveyancers are duty bound to validate not only the ID of conveyancing clients but also the origin of fund that they receive in respect of any matter. An unwillingness to disclose this will result in your lawyer ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to inform the relevant authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
Me and my brother have a semi-detached Edwardian property in Syston. Conveyancing lawyer represented me and Nationwide Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold with the exact same address. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Syston and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing practitioner who conducted the work.
What makes your site different to other web based conveyancing brokers for conveyancing in Syston?
At this site get a fixed fee quote via a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Syston. Unlike many estate agents and many comparison sites we do not have commission arrangements with solicitors. A large number of agents and online brokers 'recommend' solicitors paying the highest per referral, rather than the best value conveyancing in Syston
In sourcing the web for the term cheap conveyancing in Syston it reveals many solicitorsin the vicinity. With so much choice what is the best way to find the right property lawyer for my move?
The ideal way of choosing a suitable conveyancer is through a trusted testimonial, so seek the counsel of colleagues and those you trust who have bought a property in Syston or the respected estate agent or financial adviser. Charges for conveyancing in Syston vary, so it's advisable to request a minimum of three fee estimates from different solicitors. Be sure to secure confirmation what costs in the quote includes.
What are your top tips when it comes to finding a Syston conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Syston conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Syston conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be helpful:
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How familiar is the practice with lease extension legislation?
Syston Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to buying
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Make sure you investigate if there is anything that is prohibited in the lease. For example plenty of leases prohibit pets being allowed in in a block in Syston. If you like the propertyin Syston however your dog can’t move with you then you will be presented with a hard choice. Best to be warned whether window replacement or some other significant cost is due shortly to be shared amongst the tenants and will dramatically increase the the service fees or necessitate a one time invoice.