In what way does my ID and proof of funds have anything to do with my conveyancing in Idle? Why is this being asked of me?
You are right in these requests have nothing to do with conveyancing in Idle. Nowadays you will not be able to complete any conveyancing transaction if you have not handing over evidence of your identity. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as proof of ID it needs to be both the paper element and photo card part, one is not acceptable without the other.
Verification of the origin of monies is mandated under Money Laundering Regulations. Please do not be offended when you are asked to produce this as your lawyer will need to retain this information on record. Your Idle conveyancing lawyer will need to see evidence of proof of funds before they are able to accept any money from you into their client account and they will also ask additional questions concerning the origin of funds.
I have paid off my mortgage with Skipton. I assume I don't need a Idle solicitor on the Skipton panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Skipton mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Skipton mortgage from the register. Skipton, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Skipton has sent the Land Registry the discharge electronically, and
- Skipton has instructed the Land Registry to do so
The formalities of my remortgage has taken place for my property in Idle. Conveyancing was satisfactory but I would like to complain about the lender. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
Planning on purchasing a flat in Idle. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Co-operative conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Idle conveyancing practitioner is on the Co-operative conveyancing panel.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what should have been a simple, chain free conveyancing. Idle is the location of the property. What do you suggest?
Flying freeholds in Idle are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Idle you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Idle 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 residence.
What are your top tips when it comes to appointing a Idle conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Idle conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Idle conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:
How experienced is the practice with lease extension legislation? If the firm is not ALEP accredited then why not?
I bought a studio flat in Idle, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Idle with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease expires on 21st October 2088
You have 69 years remaining on your lease we estimate the price of your lease extension to range between £9,500 and £11,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
Whilst your website is a good idea there are many lawyers listed near Idle being on the bank conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for our mortgage company?
We do not recommend specific Idle firms as the right Idle conveyancing firm for you depends on where your priorities lie. For example you may require a local firm with Idle knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..