We were just about to exchange contracts for a freehold house in Keyworth. We have hit a snag. Our loan offer with The Royal Bank of Scotland expires on 21/6/2019 but the owners are insisting on a completion date of 25/6/2019. Is it possible to prolong the mortgage expiry date?
The person best placed to address this question is your lawyer who should calculate whether they should be discussing with the bank, owner’s conveyancers, selling agents or possibly all three based on what has happend in your house move as of today.
What does my ID and proof of funds have anything to do with my conveyancing in Keyworth? Is this really warranted?
In order to comply with Money Laundering Regulations any Keyworth conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility bill evidencing where you reside.
Under Money Laundering Regulations, property lawyers are obliged by law to validate not just the ID of conveyancing clients but also the origin of monies that they receive in respect of any matter. Refusal to disclose this will result in your conveyancer ending their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to inform the relevant authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
My grandmother passed away last year and as sole heir and executor I was left the house in Keyworth. The house had a small mortgage remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this possible?
Where you intend to refinance then Aldermore will require that you use a conveyancer on the Aldermore conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Aldermore conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Aldermore mortgage is registered as a charge at the Land Registry.
We previously instructed conveyancing lawyers locally in Keyworth on the Bank of Ireland solicitor approved list. They have just invoiced me a separate fee for handling the Bank of Ireland mortgage. Is this a supplemental conveyancing fee specified by Bank of Ireland?
Provided it is contained in their Terms and Conditions or Quote then yes your property lawyer may levy a fee for this. The charge is not set by Bank of Ireland but by your Keyworth conveyancer. Plenty of firms on the Bank of Ireland panel will levy an ‘acting for lender’ fee and others do not.
We expect to receive a AIP from Leeds Building Society this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any Keyworth solicitors on the Leeds Building Society conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Keyworth solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.
About to purchase house in Keyworth. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the HSBC 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 Keyworth solicitor is on the HSBC conveyancing panel.
My father has suggested that I use his conveyancing solicitors in Keyworth. Should I use them?
Much as we are happy to recommend a Keyworth conveyancing lawyer the ideal way to select a conveyancing practitioner is to get recommendations from friends or relatives who have actually experience in using the firm you're considering.