Some advice if I may. My Cullercoats conveyancer is assuring me that he is legally obliged toconduct Cullercoats conveyancing searches becausethe firm are on the Santanderconveyancing panel. Is my solicitor right?
You have limited options available to you. As you are obtaining a mortgage with a bank your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the CML Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Cullercoats conveyancing searches.
In what way does my ID and proof of funds have anything to do with my conveyancing in Cullercoats? What am I being asked for?
Cullercoats conveyancing solicitors as well as nationwide property practitioners throughout the UK have a duty under Anti-terror and anti-money-laundering rules to verify the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and proof of address (usually a Utility Bill no older than three months).
Confirmation of source of monies is also required under the money laundering statutes as conveyancers are duty bound to investigate that the money you are using to buy a property (be it the exchange deposit or the full purchase monies if you are buying without a mortgage) has come from legitimate source (such as employment savings) rather than the product of illegitimate behaviour.
Will my solicitor be raising questions concerning flooding during the conveyancing in Cullercoats.
Flooding is a growing risk for conveyancers dealing with homes in Cullercoats. Plenty of people will acquire a house in Cullercoats, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, however there are a numerous searches that may be carried out by the purchaser or on a buyer’s behalf which should figure out the risks in Cullercoats. The standard completed inquiry forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the seller to find out whether the property has suffered from flooding. In the event that the premises has been flooded in past and is not disclosed by the vendor, then a purchaser could commence a legal claim for losses stemming from an incorrect reply. A buyer’s solicitors will also conduct an environmental search. This should higlight if there is any known flood risk. If so, more detailed investigations will need to be conducted.
I have justdiscovered that Action Conveyancing have closed. They conducted my conveyancing in Cullercoats for a purchase of a leasehold flat 12 months ago. How can I establish that my home is not still registered in the name of the previous owner?
The easiest way to see if the premises is in your name, you can make 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 Cullercoats conveyancing specialists.
I am buying a new build flat in Cullercoats. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Cullercoats
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Due to the input of my in-laws I had a survey completed on a property in Cullercoats in advance of instructing lawyers. I have been told that there is a flying freehold aspect to the property. Our surveyor advised that some banks may not issue a loan on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. Should you wish to telephone us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Cullercoats. Conveyancing may be slightly more expensive based on your lender's requirements.