In what way does my ID and proof of funds have anything to do with my conveyancing in Bramhall? What am I being asked for?
Bramhall conveyancing solicitors and indeed property lawyers accross the UK have a duty under money laundering regulations to check the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to disclose two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and proof of address (usually a Utility Bill less than 3 months old).
Evidence of the origin of funds is also required in accordance with the money laundering laws as conveyancers are required to investigate that the funds you are utilising to buy a property (whether it be the deposit for exchange or the full purchase amount if you are buying without a mortgage) has come from a reputable source (such as employment savings) as opposed to the fruits of criminal behaviour.
My wife and I are purchasing a apartment in Bramhall. I might seem paranoid but how we can trust a conveyancer? On the day of competition we will need to send money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Please help - my lawyer advises that lack of planning permission insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Bramhall?
The right level of lack of planning permission indemnity insurance should be dictated by who your lender. It would differ for example between Birmingham Midshires and Bank of Scotland. Conveyancing practitioners as opposed to borrowers take out such policies.
I have paid off my mortgage with Yorkshire BS. I assume I don't need a Bramhall lawyer on the Yorkshire BS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
I have justdiscovered that Stirling Law have been shut down. They conducted my conveyancing in Bramhall for a purchase of a leasehold apartment 9 months ago. How can I be sure that the property is registered correctly in the name of the previous owner?
The quickest way to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bramhall conveyancing specialists.
I am buying a new build apartment in Bramhall. Conveyancing is a frightening process 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 conveyancing.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Bramhall
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are surveyor prepared. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I am tempted by the attractive purchase price for a couple of maisonettes in Bramhall both have about 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Bramhall. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena.
I own a 1st floor flat in Bramhall, conveyancing having been completed in 2002. How much will my lease extension cost? Corresponding properties in Bramhall with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease runs out on 21st October 2092
With only 68 years left to run we estimate the price of your lease extension to span between £9,500 and £11,000 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.
Is it true that a Bramhall conveyancing company got sued by a client for not carrying out comprehensive conveyancing investigations?
We are not aware of such a Bramhall conveyancing matter but according to a recent report, clients buying a home in Cumbria successfully sued their solicitor as a consequence of development plans to erect a wind farm failing to be identified in conveyancing searches.
If you are purchasing in Bramhall It is critical that your property lawyer conduct all Bramhall conveyancing searches necessary making sure that you have accurate and current information before buying a property.