In what way does my ID and proof of funds have anything to do with my conveyancing in Shifnal? What am I being asked for?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign should confirm this. Your lender will also require certain documents to be viewed. Should you refuse to supply ID verification documents, your lawyer will not be able to take you on as a client.
We're in Shifnal, First timers purchasing with a mortgage (lender is Bank of Ireland , and our solicitor is on the Bank of Ireland conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Bank of Ireland conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
My wife and I are buying a property in Shifnal. It might be a silly question but how we can trust a conveyancer? On the day of competition we have to send funds into their account. What is the protection we have from them run away with our monies?
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.
I'm the only recipient of my late father’s estate and I have everything in my name now, including the my former home in Shifnal. The Shifnal property was put into my name in June. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership may be considered the same way as though I had purchased the house in June. Is the property unsalable for six months?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. Most lenders would take a pragmatic view as this clause is primarily there to identify subsales or the wholesaling and assigning of property.
Is it the case that all Shifnal solicitor practices on the Skipton conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Skipton approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. The majority of lenders do allow licenced conveyancers on their panel and in such a situation the organisation would be governed by the Council of Licensed Conveyancers.
I have recentlybeen informed that Arc property Solicitors have closed. They conducted my conveyancing in Shifnal for a purchase of a freehold house 9 months ago. How can I check that my home is in my name in the name of the former proprietor?
The quickest method to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Shifnal conveyancing specialists.
I want to let out my leasehold flat in Shifnal. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A small minority of properties in Shifnal do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I acquired a 2 bed flat in Shifnal, conveyancing was carried out 4 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Shifnal with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease runs out on 21st October 2069
With only 50 years unexpired we estimate the price of your lease extension to span between £31,400 and £36,200 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.