Unfortunately I am unable to travel far from Undy. Is there a reason why all Undy conveyancers are not on all mortgage company panels?
Banks tend to restrict either the nature or the number of conveyancing firms on their panel. Frequent examples of such criteria being that the firm is required to have at least two partners. In addition to restricting the nature of firm, some banks such as HSBC decided to limit the size of their panel they permit to represent them. It is worth noting that banks have no accountability for the accuracy of service provided by any Undy lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago even though there are opposing views about the extent of solicitor involvement in some of that fraud. Statistics published by HMLR exposes that thousands of conveyancing practices only transact a couple of conveyances annually. Those advocating conveyancing panel pruning question why law firms should have the right to remain on a lender panel when it is evident that property law is not their speciality?
What does my ID and proof of funds have anything to do with my conveyancing in Undy? Is this really warranted?
To satisfy the Money Laundering Regulations any Undy 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 bill evidencing where you reside.
In accordance with Money Laundering Regulations, conveyancing solicitors are duty bound to ascertain not just the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. An unwillingness to disclose this may lead to your conveyancer cancelling 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 make a disclosure to the appropriate authorities should they believe that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
We are purchasing a house and the lawyer has raised the issue of Chancel Repair for which the property may be liable given it’s proximity to the area of such a church. He has recommended insurance. Is this really required for conveyancing in Undy
Unless a previous acquisition of the house completed after 12 October 2013 you can assume that solicitors delivering conveyancing in Undy to remain recommending a chancel search and or insurance against a claim.
My father-in-law has recommend that I instruct his conveyancers in Undy. Do I follow his guidance?
There are no two ways about it the best way to find a conveyancing solicitor is to get feedback from friends or family who have used the firm you're considering.
Do you have any top tips for leasehold conveyancing in Undy from the perspective of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Undy can be avoided where you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ representatives. A minority of Undy leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet the yearly 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 buyers or their solicitors. If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share document. Organising a duplicate share certificate is often a time consuming process and delays many a Undy home move. Where a duplicate share certificate is necessary, you should approach the company officers or managing agents (where applicable) for this as soon as possible. You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
Undy Conveyancing for Leasehold Flats - A selection of Queries before buying
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Is there a share of the freehold? How much is the maintenance charge and ground rent on the flat? This information is helpful as a) areas may result in problems in the building as the communal areas may start to deteriorate if repairs are not paid for b) if the leaseholders have a dispute with the managing agents you will wish to have complete disclosure
My mortgage broker has suggested using their lawyer for my conveyancing in Undy - won’t it be better to just use them?
It is worth checking if the selling agent is recommending a conveyancer or introducing to a conveyancer. There are plenty of Undy selling agents who recommend two or three Undy conveyancing firms and get nothing from it.