My financial adviser has asked me for my Bow Street law firm’s panel member for the HSBC conveyancing panel. What is the best way to discover this. I have called my local Bow Street office but they don't know it.
The sensible thing to do is ask for this information from your Bow Street solicitor . Most Bow Street law practices will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
I have todaydiscovered that Wolstenholmes have closed. They carried out my conveyancing in Bow Street for a purchase of a leasehold flat 10 months ago. How can I establish that my home is in my name in the name of the former proprietor?
The quickest way to see if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bow Street conveyancing specialists.
How does conveyancing in Bow Street differ for newly converted properties?
Most buyers of new build property in Bow Street approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is completed. This is because house builders in Bow Street tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Bow Street or who has acted in the same development.
Planning to exchange soon on a studio apartment in Bow Street. Conveyancing solicitors inform me that they report fully next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Bow Street should include some of the following:
Specifying your rights in respect of common areas in the building.By way of example, does the lease contain a right of way over an accessway or staircase? Responsibility for repairing the window frames The landlord’s rights to access the flat. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Ground rent - what is due and when you need to pay, and be on notice if this is subject to change
I own a 2 bed flat in Bow Street, conveyancing was carried out in 2004. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Bow Street with over 90 years remaining are worth £190,000. The ground rent is £45 levied per year. The lease ends on 21st October 2083
With just 62 years unexpired we estimate the price of your lease extension to span between £17,100 and £19,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
Our lawyer in Bow Street has informed me that he requires ID documents asserting that this is part of his retainer as a conveyancer on the lender Solicitor panel. Can you confirm whether this is the case?
Anti-terror and anti-money-laundering rules require Bow Street 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 bank 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