We are about to sign contracts for a leasehold flat in Lavenham. We have hit a snag. The mortgage offer with Halifax expires on 17/6/2019 but the vendors are suggesting a completion date of 19/6/2019. Is it possible to extend the loan offer?
The best person to address this issue is your solicitors who is in a position to assess if they corresponding with the lender, owner’s representatives, estate agents or conceivably all three given what has happend in your conveyancing as of today.
In what way does my ID and proof of funds have anything to do with my conveyancing in Lavenham? What am I being asked for?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the ID of the person or body they are dealing with prior to agreeing to accepting their conveyancing instruction. The Terms of Engagement that you are required to sign will no doubt stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you are unwilling to supply ID verification documents, your conveyancer will not be able to take you on as a client.
My solicitor has informed me that chancel insurance is necessary on my purchase. What is the level of cover for Lavenham conveyancing?
The appropriate level of chancel indemnity insurance depends on who your lender is. It would differ for example between Halifax and Barnsley Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
We expect to receive a DIP from Barclays this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Barclays recommend any Lavenham solicitors on the Barclays conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Lavenham solicitors independently although you'll need to choose one on the Barclays conveyancing panel. The solicitor represents both you and Barclays through the process.
I have today made my last payment due on my mortgage with UBS. I assume I don't need a Lavenham conveyancing practitioner on the UBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS 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 UBS mortgage from the register. UBS, 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 UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
I am buying a new build flat in Lavenham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Lavenham
The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please confirm the Lease plans are architect prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
My cousin has encouraged me to use his conveyancers in Lavenham. Do I take his advice?
Much as we are happy to recommend a Lavenham conveyancing lawyer it’s preferable to find a conveyancing solicitor is to seek feedback from friends or family who have used the firm that you are considering.