I was informed recently by my IFA that my Eaglescliffe solicitor is not on the mortgage company Solicitor panel. What can I do to be sure if this is correct?

The sensible course of action for you to take is to contact your Eaglescliffe lawyer directly. You lawyer should advise you of the situation. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your lender.

What does my ID and proof of funds have anything to do with my conveyancing in Eaglescliffe? 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 Eaglescliffe. Nowadays you will not be able to complete any conveyancing transaction if you have not providing evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a bank statement. Remember if you are providing your driving licence as proof of identification it needs to be both the paper section and photo card part, one is not sufficient without the other.

Verification of your origin of monies is necessary in accordance with the Money Laundering Regulations. You should not be offended when when this is requested of you as your conveyancing solicitor must have this information on file. Your Eaglescliffe conveyancing solicitor will need to see evidence of proof of funds prior to accepting any money from you into their client account and they may also ask further queries regarding the source of monies.

Is there a search tool that I can use to investigate if the solicitor handling my conveyancing in Eaglescliffe is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Chelsea Building Society thus spending £192.00 in another set of legal bill.

You should take advantage of the search tool on this page. Please choose the mortgage company and type ‘Eaglescliffe’ or your location and you will discover numerous conveyancers offices in Eaglescliffe or by proximity to you.

Am I better off to appoint a Eaglescliffe conveyancing practitioner who is local to the property I am purchasing? I have an old university friend who can handle the legal formalities however they are based approximately 350miles drive away.

The benefit of a high street Eaglescliffe conveyancing firm is that you can attend the office to sign paperwork, present your identification documents and pester them where appropriate. Having local Eaglescliffe know how is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and the majority were impressed that must surpass using an unknown Eaglescliffe conveyancing lawyer solely due to them being local.

What are the common deficiencies that you witness in leases for Eaglescliffe properties?

Leasehold conveyancing in Eaglescliffe is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

A provision for the recovery of money spent for the benefit of another party. Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Leeds Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to pull out.

I bought a leasehold flat in Eaglescliffe, conveyancing was carried out 3 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Eaglescliffe with over 90 years remaining are worth £181,000. The ground rent is £55 per annum. The lease finishes on 21st October 2074

With just 50 years unexpired the likely cost is going to be between £31,400 and £36,200 as well as professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.