What does my ID and proof of funds have anything to do with my conveyancing in Seaburn? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Seaburn 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 live.
Under Money Laundering Regulations, conveyancers are obliged by law to check not simply the ID of conveyancing clients but also the source of fund that they receive in respect of any matter. An unwillingness to disclose this may lead to your solicitor cancelling their retainer 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 make a disclosure to the relevant authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
We wanted to use a property lawyer in Seaburn for our house purchase. Our broker has since advised us that our mortgage company Bank of Ireland won't deal with them. Why is this not regarded as unduly restrictive?
Lenders in the main imposes restrictions either the category or the amount of conveyancing solicitors on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the profile of firm, a few banks have limited the amount of solicitor practices they use to represent them. You should note that Bank of Ireland have no responsibility for the quality of advice provided by any member of Bank of Ireland Conveyancer Panel. Mortgage fraud was a key driver in the reduction of solicitor panels since 2008 even though there are differing views concerning the level of solicitor involvement in some of that fraud. Figures from the Land Registry reveal that plenty of law firms, including some in or near Seaburn only carry out one or two conveyances per annum.
I just bought a flat at auction in Seaburn. Conveyancing is necessary. What are my next steps?
Having exchanged you will need to hire the services of a conveyancing lawyer soon as you are facing a fast approaching a fixed date to complete the deal. Every auction property will ordinarily have an associated auction set of papers. This will include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the conveyancing papers may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to a leasehold property. You should pass this on to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that that you have the requisite funding in order to complete the transaction on the set completion date.
My husband and I have arranged a further advance on our home loan from Co-operative as we wish to conduct a loft conversion to our property in Seaburn. Are we obliged to appoint a high street Seaburn solicitor on the Co-operative conveyancing panel to handle the paperwork?
Co-operative don't usually appoint firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative list.
I am due to exchange contracts on my apartment. I had a double glazing fitted in November 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Kent Reliance are being difficult. The Seaburn solicitor who is on the Kent Reliance conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Kent Reliance are requiring a building regulation certificate. Why do Kent Reliance have a conveyancing panel if they don't accept advice from them?
It is probably the case that Kent Reliance have referred the matter to their valuer. The reason why Kent Reliance may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Seaburn?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Seaburn. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am tempted by the attractive purchase price for a two flats in Seaburn which have in the region of forty five years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease reduces and it becomes more expensive to extend the lease. This is why it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena.
Seaburn Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing
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What is the name of the managing agents? Are there any major works in the near future that will add a premium to the maintenance charges? It is important to be aware if redecorating or some other significant cost is pending that will be shared between the tenants and will materially increase the the maintenance costs or result in a one off invoice.
My parents are encountering difficulties in finding their Seaburn land registry title on the site. They have a vague memory back in the 60’s when they acquired the bungalow there were complications with Seaburn not being recognised in some systems.
The vast majority of residences in Seaburn should show up. Have you limited your search with just the postcode. Ordinarily it will disclose all the residences within the postcode. Where recorded it will show up with a title number. If they bought back in the 60’s it's conceivable it may be unregistered. The property might still be revealed but with the title number identified as 'na'. In this scenario you will need to find the original title papers which could be with your parent’s mortgage company.