Is it realistic for conveyancing in Lydney to be concluded within two weeks?
In the event that you are under pressure to sign contracts it is advisable to make sure that your conveyancer is familiar with the area as they will benefit local contacts and insight. It is even conceivable that they could have conducted previousproperties in the same neighbourhood. You would be best advised to use a Lydney conveyancing firm. Second, check that the lawyer is on the on the approved list for your mortgage company. It is understood that just under twenty per cent of Lydney conveyancing deals are frustrated or derailed after discovering a buyer’s lawyer was not on their banks panel. This can often result in the conveyancing being frustrated by an average of three weeks. It is believed that this issue impacts in the region of 100,000 home moves every year. Many Lydney conveyancing firms can not represent certain lenders so do check at the outset.
What does my ID and proof of funds have anything to do with my conveyancing in Lydney? What am I being asked for?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identity of the potential client they are dealing with prior to agreeing to accepting their conveyancing retainer. The Client Care letter that you are required to sign will no doubt reaffirm 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 hand over identification documents, your lawyer will not be able to take you on as a client.
I am purchasing a end of terrace house in Lydney. Our aim is to an extension at the rear at the house.Will legal due diligence on the property include investigations to determine if these works were previously refused?
Your property lawyer should review the registered title as conveyancing in Lydney will sometimes identify restrictions in the title deeds which prevent categories of changes or require the permission of a 3rd party. Many extensions need local authority planning permissions and approval in accordance building regulations. Some locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be sensible to check these issues with a surveyor ahead of any purchase.
We had chosen conveyancers located in Lydney on the Nottingham solicitor approved list. They have just billed me an additional sum for dealing with the Nottingham mortgage. Is this an additional conveyancing fee specified by Nottingham?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your lawyer is entitled to levy a fee for this. The fee is not set by Nottingham but by your Lydney conveyancer. Plenty of firms on the Nottingham panel will quote an ‘acting for lender’ fee and others do not.
We expect to receive a DIP from UBS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do UBS recommend any Lydney solicitors on the UBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Lydney solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Lydney is the location of the property. Can you shed any light on this issue?
Flying freeholds in Lydney are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lydney you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lydney may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I'm remortgaging my existing house to a buy to let loan with The Mortgage Works and I will use the rest of the raised equity as a down payment on another property. The location we are interested in is Lydney. Will your solicitors be able to act for the two banks and link together the conveyances?
Make use of our comparison tool on this site to be sure that the conveyancers are approved by both lenders. On the basis that they are the lawyer should be able to connect the two transactions but you should have a chat with you conveyancer and communicate your expectations and requirements.