Due to move into my new home in Verwood next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the bank. What does the insurance need to cover?
All property lawyers on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 requirements. These obligations are not limited to conveyancing in Verwood.
In what way does my ID and proof of funds have anything to do with my conveyancing in Verwood? Is this really warranted?
Verwood conveyancing solicitors and indeed property lawyers throughout the UK have a duty under money laundering regulations to verify the identity of any client with a view to ensure that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and evidence of address (typically a Utility Bill less than 3 months old).
Confirmation of source of monies is also necessary under the money laundering regulations as lawyers are mandated to investigate that the funds you are using to acquire a property (be it the exchange deposit or the full purchase amount if you are a cash purchaser) has come from a reputable source (such as an inheritance) and is not the fruits of illegitimate activity.
It has been 2 months following my purchase conveyancing in Verwood completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. 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 asset 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.
How difficult is it to switch firm as I need to select a firm on the The Royal Bank of Scotland conveyancing list. I instructed a high street conveyancing solicitor in Verwood round the corner but he is not approved by The Royal Bank of Scotland
It would be our pleasure to help you select a conveyancing solicitor in Verwood on the The Royal Bank of Scotland panel. Please note that the conveyancers that we list do not pay us commission if you instruct them and are fully regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Verwood. Using search facility on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Verwood.
I need to retain a conveyancing solicitor for my conveyancing in Verwood. I've chance upon a web site which looks to be the ideal answer If there is a chance to get all this stuff done via email that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Due to exchange soon on a garden flat in Verwood. Conveyancing lawyers inform me that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Verwood should include some of the following:
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You must be told what constitutes a Nuisance as far as the lease is concerned Are you allowed to have a pet in the flat? Does the lease require carpeting throughout thus preventing wood flooring? Specifying your rights in respect of the communal areas in the building.For instance, does the lease grant a right of way over an accessway or staircase? Whether the lease restricts you from subletting the property, or working from home
Verwood Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
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Can you inform me if there are any major works on the horizon that will add a premium to the maintenance charges? Does the lease have more than 82 years unexpired? How many of the leaseholders are in arrears for their maintenance charge payments?