My husband and I are buying a 1 bedroom flat in Ravenglass with a mortgage. We wish to retain our Ravenglass solicitor, however the bank says she’s not on their "panel". We have to appoint one of the lender panel firms or retain our Ravenglass conveyancing practitioner and pay for one of their panel firms to represent them. This seems very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Ravenglass conveyancing solicitor to apply to be on the conveyancing panel.
Me and my partner are buying a flat in Ravenglass. It might be a silly question but how we can trust a lawyer? On the day of competition we will need to put our life savings into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
This question may be naive but I am wet behind the ears as FTB of a garden flat in Ravenglass. Do I pick up the keys to the property on completion from my solicitor? If so, I will appoint a High Street conveyancing solicitor in Ravenglass?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the completion advance to the owner’s solicitors, and once they have received this, you will be called to collect the keys from the Estate Agents and move into your new home. This tends to happen early afternoon.
My solicitor has informed me that lack of right of way insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Ravenglass?
The appropriate level of lack of right of way indemnity insurance should be dictated by who who your lender is. It would differ for example between HSBC Bank and Barnsley Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.
How does conveyancing in Ravenglass differ for newly converted properties?
Most buyers of new build premises in Ravenglass come to us having been asked by the developer to sign contracts and commit to the purchase even before the residence is finished. This is because builders in Ravenglass tend to purchase the site, 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 accustomed to new build conveyancing in Ravenglass or who has acted in the same development.
I am in need of some leasehold conveyancing in Ravenglass. Before diving in I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in Ravenglass - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Ravenglass Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
The best form of lease arrangement is where the freehold interest is in the ownership of the leaseholders. In this situation the tenants enjoy control and notwithstanding that a managing agent is often retained where it is bigger than a house conversion, the managing agent is directed by the tenants. Where a Ravenglass lease has fewer than 80 years it will have adverse implications on the marketability of the apartment. It is worth checking with your mortgage company that they are willing to go ahead with the loan given the lease term. A short lease means that you will most likely require a lease extension sooner rather than later and it is worth finding out how much this will be. Remember, in most cases you would be required to have owned the property for 24 months before you are legally able to exercise a lease extension.
I am purchasing a maisonette mortgage free. I have provided conveyancer with 2 separate forms of photographic ID, bank statement, numerous utility bills. Now he requires a copy from a probate lawyer acknowledging that the funds are in place and that it has come from inheritance and not selling fake watches.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Ravenglass conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.