My wife and I are purchasing a 3 bedroom flat in Seaford with a mortgage. We like our Seaford solicitor, however the bank says he's not on their "panel". It seems we have no option but to use one of the mortgage company panel solicitors or continue with our Seaford property lawyer as well as pay for one of their panel firms to act for them. We regard this is unjust; can we not demand that the lender use our Seaford property lawyer ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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. A further alternative is for your Seaford conveyancing lawyer to apply to be on the conveyancing panel.
What does my ID and proof of funds have anything to do with my conveyancing in Seaford? What am I being asked for?
It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Seaford. Nowadays you will not be able to complete any conveyancing process without first submitting proof of your identity. This usually takes the form of a either your passport or driving licence and a council tax bill. Please note that if you are supplying your driving licence as proof of ID it needs to be both the paper part and photo card part, one is not sufficient in the absence of the other.
Evidence of the origin of monies is necessary under Money Laundering Regulations. Don’t be offended when when this is requested of you as your conveyancing solicitor will need to retain this information on file. Your Seaford conveyancing practitioner will require evidence of proof of funds before they are able to accept any money from you into their client account and they may also ask further questions regarding the origin of monies.
Can you point me to a directory of Nottingham panel solicitors in Seaford on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association sites. A small selection of banks make their panel listings viewable online. Where you are looking for a Seaford conveyancer on the Nottingham please use our facility.
How can we tell if a Seaford conveyancing solicitor on the Nottingham panel is any good?
When it comes to conveyancing in Seaford seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer carrying out your transaction.
After months of negotiation I have agreed a price on a house in Seaford. My mortgage broker suggested a conveyancer. I paid an upfront payment of £225. Shortly after, the lawyer contacted me sheepishly admitting that they were not on the Lloyds conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Lloyds panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Is it necessary to take out insurance to cover chancel repairs when purchasing a residence in Seaford?
Unless a previous purchase of the house took place after 12 October 2013 you can assume that conveyancing practitioners conducting conveyancing in Seaford to continue to suggest a chancel search and or chancel repair liability policy.
I am in need of some leasehold conveyancing in Seaford. Before diving in I would like to find out the unexpired term of the lease.
If the lease is registered - and 99.9% are in Seaford - then the leasehold title will always include the basic details 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.
I bought a leasehold flat in Seaford, conveyancing was carried out April 2001. How much will my lease extension cost? Equivalent properties in Seaford with an extended lease are worth £260,000. The ground rent is £45 invoiced annually. The lease ends on 21st October 2095
You have 74 years unexpired the likely cost is going to range between £8,600 and £9,800 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.