In what way does my ID and proof of funds have anything to do with my conveyancing in Laindon? What am I being asked for?
Laindon conveyancing solicitors and indeed property lawyers throughout the UK have a duty under Anti-terror and anti-money-laundering rules to verify the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to provide two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and evidence of address (usually a Utility Bill no more than three months).
Confirmation of the origin of funds is also necessary under the money laundering laws as conveyancers are duty bound to check that the monies you are utilising to buy a property (be it the exchange deposit or the full purchase monies where you are buying mortgage free) has originated from legitimate source (such as an inheritance) as opposed to the fruits of illegitimate behaviour.
The Laindon conveyancing solicitors that just started acting on my house acquisition in Laindon have without warning shut down. I only went with them because I had to have a firm on the Barclays conveyancing panel and my previous Laindon lawyer was not. I paid them funds in advance. What are my options?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Barclays conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
What is the difference between a licensed conveyancer and conveyancing solicitor in Laindon
There are two types of lawyers who can execute conveyancing in Laindon namely CLC regulated conveyancers or solicitors. Both professionals administer the legal services that required to complete the sale or purchase of property. Both are required to conduct Laindon conveyancing on similar standards and guidelines so you can be safe in the knowledge that your conveyancing will be professionally carried out and that the necessary steps should be correctly adhered to.
Have just purchased a probate house at auction in Laindon. Conveyancing is necessary. What are my next steps?
Now that you have exchanged you will need to instruct a conveyancing lawyer as a matter of urgency as you will have a fast approaching deadline in which to complete the transaction. Every auction property will have a corresponding legal set of papers. This will likely include evidence of title and search results. Where you are dealing with leasehold property the legal papers should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You need to give this to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that that you have the requisite funding in place to complete on the date specified in the contract.
We previously chose conveyancers based in Laindon on the Leeds Building Society solicitor approved list. They are now charging me a supplemental amount for handling the Leeds Building Society mortgage. Is this an additional conveyancing fee specified by Leeds Building Society?
As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your solicitor can levy a fee for this. The charge is not dictated by Leeds Building Society but by your Laindon conveyancer. Plenty of firms on the Leeds Building Society panel will quote an ‘acting for lender’ fee but many practices incorporate it on their overall fee.
I opted to have a survey completed on a house in Laindon prior to appointing conveyancers. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some lenders may not give a loan on such a property.
It varies from the lender to lender. Santander has different instructions for example to Halifax. If you contact us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Laindon. Conveyancing may be slightly more expensive based on your lender's requirements.
What are your top tips when it comes to choosing a Laindon conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Laindon conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Laindon conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be useful:
Can they put you in touch with clients in Laindon who can give a testimonial? If the firm is not ALEP accredited then why not?
I purchased a 1st floor flat in Laindon, conveyancing was carried out 7 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Laindon with over 90 years remaining are worth £190,000. The ground rent is £45 yearly. The lease ceases on 21st October 2081
With 62 years unexpired we estimate the price of your lease extension to span between £17,100 and £19,800 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.