I am purchasing a ground floor flat in Pound Hill. My Solicitor has never been on on the lender approved panel. Am I still permitted to continue with my Pound Hill conveyancing solicitor even though they are not on the mortgage company panel?
One will need to use a lawyer to complete the formalities when you need a mortgage to buy your home. They will conduct all the relevant investigations on the property, make sure that you’re registered as proprietor and ensure that all the required mortgage paperwork is in place. You can select a Pound Hill conveyancing practitioner of your choice. However, where the property lawyer appointed is not a member of the bank approved list further costs will arise as separate legal representation will be need by the mortgage company. Bank panel applications can be submitted, so provided your conveyancer has not in the past applied for membership they can do so.
What does my ID and proof of funds have anything to do with my conveyancing in Pound Hill? What am I being asked for?
You are right in these requests have nothing to do with conveyancing in Pound Hill. However these days you will not be able to complete any conveyancing process in the absence submitting proof of your identity. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as proof of ID it needs to be both the paper section as well as the photo card part, one is not satisfactory in the absence of the other.
Proof of the origin of funds is mandated in accordance with the Money Laundering Regulations. Please do not be offended when you are asked to produce this as your conveyancer will need to retain this information on record. Your Pound Hill conveyancing practitioner will need to see evidence of proof of funds before they are able to accept any money from you into their client account and they may also ask further queries concerning the origin of funds.
My relative advised me that if I am purchasing in Pound Hill I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Pound Hill conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Pound Hill around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Pound Hill Education with maps and statistics, Local Amenities and other useful data about Pound Hill.
4 months have gone by since my purchase conveyancing in Pound Hill concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Back In 2005, I bought a leasehold flat in Pound Hill. Conveyancing and HSBC Bank mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Pound Hill who acted for me is not around. Any advice?
First make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Pound Hill conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Pound Hill Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing
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It is important to be aware if fixing the lift or some other significant cost is anticipated that will be shared between the leaseholders and will materially impact the level of the maintenance fees or result in a one time payment. It would be prudent to find out as much as possible concerning the managing agents as they will either make your living at the property much easier or much more difficult. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to day to day matters like the tidiness of the communal areas. Don't be afraid to ask other tenants what they think of their service. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and specifically how they are spending the funds. How much is the maintenance charge and ground rent on the property?
Should one remove a departed person's details from the title register for a property in Pound Hill?
Where a Pound Hill property is co-owned and one of the proprietors dies, the name will not immediately be removed from the title deeds. It is not necessary to amend the title as when it comes to a disposal you would simply need to supply proof as to the reason the joint proprietor is not a party to the contract, such as a grant of probate.
With the aim of making the sale conveyancing smoother for the sale of the property you can apply to have the deceased party removed from the title by applying to the land registry with evidence of the death. There is no land registry fee payable.