I can't travel far from Yardley. I would like to know the understand why all Yardley conveyancing practitioners aren't automatically on all lender panels?
Mortgage Companies tend to impose restrictions on either the nature or volume of conveyancing solicitors on their panel. Typical examples of such criteria being that the organisation needs to have at least two partners. In addition to restricting the type of firm, some banks decided to reduce the size of their panel they use to represent them. You should note that building societies have no accountability for the quality of conveyancing supplied by any Yardley conveyancer on their approved list. Property fraud was the key driver in the reduction of conveyancing panels in the last decade even though there are contrary thoughts concerning whether solicitors sat at the center of that fraud. Statistics published by HM Land Registry reveal that thousands of law firms only carry out less than three conveyances a year. Those advocating conveyancing panel consolidation ask why law firms should have claim to remain on a lender panel when it is apparent that conveyancing is not their primary expertise?
In what way does my ID and proof of funds have anything to do with my conveyancing in Yardley? Is this really warranted?
Yardley conveyancing solicitors as well as nationwide property lawyers throughout the UK have an obligation under money laundering regulations to check the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and evidence of address (usually a Utility Bill no more than three months).
Confirmation of source of funds is also required under the money laundering regulations as solicitors are mandated to ensure that the money you are utilising to buy a property (whether it be the deposit for exchange or the full purchase amount if you are buying mortgage free) has come from a reputable source (such as an inheritance) and is not the product of criminal activity.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Yardley is the location of the property. What do you suggest?
Flying freeholds in Yardley are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Yardley you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Yardley 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 property.
Taking into account that I am about to spend £400,000 on a two bedroom apartment in Yardley I would like to have a conversation with the solicitor about mytransaction ahead of appointing the firm. Can this be arranged?
Absolutely - we would be delighted to talk to you we do not take any clients on without you speaking to the solicitor who will be doing your conveyancing in Yardley.There is no ‘factory style conveyancing’ - every client is an important individual, not a file reference. The practices that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in Yardley should be the amount on the final invoice that you are charged.
We are 18 days into a freehold purchase having been directed to conveyancers by the estate agent to carry out the conveyancing in Yardley. I am not happy. Can you you assist me in finding new solicitors?
They would have to be really poor in order to consider replacing them. Has the mortgage offer been generated? If so you will need to make them aware of the new contact details and have the mortgage documents are re-issued. Your conveyancer should be on the banks approved list to avoid escalating fees and complications. That should be your starting point. Our find a solicitor tool can help you find a lender approved solicitor for your conveyancing in Yardley
My wife and I purchased a leasehold house in Yardley. Conveyancing and Chelsea Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Yardley who acted for me is not around. What should I do?
First contact HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Yardley conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a ground floor flat in Yardley, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Yardley with a long lease are worth £191,000. The ground rent is £55 invoiced every year. The lease terminates on 21st October 2077
With just 53 years left to run we estimate the price of your lease extension to range between £27,600 and £31,800 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.