In what way does my ID and proof of funds have anything to do with my conveyancing in Bangor? Is this really warranted?
It is indeed that case that these requests have nothing to do with conveyancing in Bangor. Nowadays you can not complete any conveyancing transaction if you have not handing over proof of your identity. This usually takes the form of a either your passport or driving licence and a council tax bill. Please note that if you are providing your driving licence as proof of identification it must be both the paper section and photo card part, one is not sufficient without the other.
Verification of the source of funds is necessary under Money Laundering Regulations. Please do not be offended when you are asked to produce this as your conveyancing solicitor must have this information on file. Your Bangor conveyancing solicitor will need to see evidence of proof of funds prior to accepting any money from you into their client account and they may also ask further queries concerning the origin of funds.
My uncle passed away last year and as sole heir and executor I was left the house in Bangor. The house had a small mortgage left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Principality, pay off the mortgage. Is this allowed?
If you plan to refinance then Principality will require that you use a conveyancer on the Principality conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Principality conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Principality mortgage is registered as a charge at the Land Registry.
I just acquired a flat at auction in Bangor. Conveyancing is required. What is next?
Having exchanged you should instruct a conveyancing solicitor soon as you will have a tight a drop dead date to complete the property. All auction property should have an associated legal pack. This will likely include evidence of title and search results. Where you are dealing with leasehold premises the legal papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to a leasehold property. You must give this to your appointed conveyancing solicitor ASAP. You also need to ensure that you have funds in order to complete the transaction on the set completion date.
My conveyancer has informed me that missing deeds insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Bangor?
The appropriate level of missing deeds indemnity insurance depends on your lender. It would differ for example between Barclays and Coventry Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
We were going to get a OIP from RBS this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do RBS recommend any Bangor solicitors on the RBS conveyancing panel, or is it better to go independently?
You will need to appoint Bangor solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
Despite weeks of looking the Title Certificate and documents to my home can not be found. The lawyers who handled the conveyancing in Bangor 10 years ago have long since closed. What are my options?
Assuming you have a registered title the information relating to your ownership will be retained by the Land Registry with a Title Number. It is possible to carry out a search at the Land Registry, find your house and obtain up to date copies of the Registered Entries for less than a fiver. Where the title is Leasehold then the Land Registry will also normally hold a file copy of the Registered Lease and again, a copy can be retrieved for a small fee.
Just had an offer accepted on a new build apartment in Bangor. Conveyancing is daunting 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 legal work.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Bangor
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
Much to my surprise my conveyancing solicitor in Bangor is asking me for proof of ID documents saying that this forms part of his legal duty as a solicitor on the bank Conveyancing panel. Is this right?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the bank. This is not unique to conveyancing in Bangor