My friend's step-father is a conveyancer. I expect that I will receive preferential rates for conveyancing, but if not, what level of costs would I typically be looking at for conveyancing in Newmarket?
It’s sensible to look for multiple conveyancing estimates. Make use of our search tool on this site. The estimates may vary but service levels do differ between property lawyers as is true with the vast majority of professional services.
In what way does my ID and proof of funds have anything to do with my conveyancing in Newmarket? Is this really warranted?
In order to comply with Money Laundering Regulations any Newmarket conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility bill evidencing where you reside.
Under Money Laundering Regulations, property lawyers are obliged by law to ascertain not only the identity of conveyancing clients but also the origin of monies that they receive in respect of any matter. Refusal to disclose this may lead to your solicitor terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to notify the relevant authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
I am the single recipient of my late grandmother’s estate and I have everything in my name now, including the house in Newmarket. The Newmarket property was put into my name in December. I want to move. I understand that there is a Mortgage Lenders six month 'rule', which means that my property ownership could be regarded the same way as though I had purchased the house in December. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. Most mortgage companies would take a pragmatic view as this clause is primarily there to identify subsales or the flipping of properties.
Nottingham have agreed my home loan in principle, my bid on a apartment in Newmarket has been agreed to, what are the next steps?
Your estate agent will want to know who your solicitors are (ensure that the conveyancers are on the lender’s panel). Call up Nottingham or your financial adviser and finish off any outstanding forms. Nottingham will instruct a valuer who will get in touch with the selling agent or owners to schedule a slot for the valuation to occur. Once conducted (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Nottingham will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Newmarket.
Our offer on a property in Newmarket has been accepted, but there is a chain. The sellers have offered on a flat, but it’s not yet agreed to, and have viewings of other flats booked. I have chosen a high street conveyancing solicitor in Newmarket. What should be my next step? At what point do I apply for the mortgage with Coventry BS?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of £1k, then survey, Newmarket conveyancing search fees, etc). The first thing to do is ensure that your lawyer is on the Coventry BS approved list. Regarding the next phase this very much dictated by the specifics of your transaction, attraction to this property and on the state of the market. During a hot market some purchasers would apply for a home loan with Coventry BS and pay for the valuation and only if it comes back ok would they pay their conveyancer to move forward with searches.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Newmarket is the location of the property. Can you shed any light on this issue?
Flying freeholds in Newmarket are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Newmarket you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Newmarket may ascertain 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.
In my capacity as executor for the will of my grandmother I am selling a property in Monmouth but live in Newmarket. My conveyancer (based 200 miles from meneeds me to execute a stat dec prior to completion. Can you recommend a conveyancing lawyer in Newmarket to attest and place their company stamp on the document?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are Newmarket based