What does my ID and proof of funds have anything to do with my conveyancing in Malmesbury? Is this really necessary?
You are right in these requests have nothing to do with conveyancing in Malmesbury. However these days you can not proceed with any conveyancing transaction without first supplying proof of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a utility bill. Remember if you are supplying your driving licence as proof of ID it needs to be both the paper part and photo card part, one is not satisfactory without the other.
Verification of the source of monies is required in accordance with the Money Laundering Regulations. Please do not be offended when you are asked to produce this as your conveyancing solicitor will need to have this information on record. Your Malmesbury conveyancing solicitor will require evidence of proof of funds before they are able to accept any money from you into their client account and they will also ask additional questions concerning the source of funds.
Various web forums that I have come across warn that are the primary cause of hinderance in Malmesbury house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays during the legal transfer of property. Local searches are unlikely to feature in any slowing down conveyancing in Malmesbury.
My wife and I purchased a terraced Victorian property in Malmesbury. Conveyancing lawyer represented me and Nottingham Building Society. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Malmesbury and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with your conveyancing lawyer who conducted the conveyancing.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Malmesbury is the location of the property. Can you shed any light on this issue?
Flying freeholds in Malmesbury are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Malmesbury you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Malmesbury 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.
I was recommended by numerous property agents in Malmesbury to find a conveyancer using your seach tool. Is there a financial incentive for Estate Agents to market your lawyers rather than another?
We don’t offer any referral fee for pointing buyers and sellers in our direction. We thought it would be too underhand to pay a commission as a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
Is it best to go with a Malmesbury conveyancing solicitor who is local to the property I am purchasing? An old friend can deal with the conveyancing however they are based approximately 350kilometers drive away.
The primary upside of using a high street Malmesbury conveyancing firm is that you can drop in to sign paperwork, hand in your ID and pester them where appropriate. Having local Malmesbury know how is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were content that must outweigh using an unfamiliar Malmesbury conveyancing solicitor just because they are round the corner.