In what way does my ID and proof of funds have anything to do with my conveyancing in Crawcrook? Is this really warranted?
Crawcrook conveyancing solicitors and indeed property practitioners accross the UK have an obligation under Anti-terror and anti-money-laundering rules to check the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and proof of address (usually a Bank Statement no more than three months).
Confirmation of the origin of monies is also necessary in accordance with the money laundering regulations as solicitors are mandated to ensure that the money you are using to acquire a property (whether it be the deposit for exchange or the full purchase price where you are buying without a mortgage) has originated from legitimate source (such as an inheritance) rather than the product of criminal behaviour.
My husband and I are hoping to buy a 3 bedroom flat in Crawcrook with a residential mortgage from Chelsea Building Society.We would like to retain our Crawcrook conveyancing solicitor but Chelsea Building Society informed us her practice is not on their "panel". We have to appoint a Chelsea Building Society panel lawyer or retain our local solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The loan offered to you contains terms and conditions, one of which will be that lawyers needs to be on the Chelsea Building Society solicitor panel. in the past, most mortgage companies had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Chelsea Building Society
We are purchasing a flat in Crawcrook. It might be a silly question but how we can trust a lawyer? At some point we have to put 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.
I was told three weeks ago that my mortgage has been agreed to by UBS. Is it usual for UBS to only issue the offer once my solicitor in Crawcrook is approved on their conveyancing panel? UBS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for UBS to deal with your lawyer's application to be on the UBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
After shopping around on the internet I have found a Crawcrook property lawyer having made sure that they are on the UBS conveyancing panel. Does my lawyer arrange the survey of the property?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Crawcrook surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
What will a local search tell me about the property we're buying in Crawcrook?
Crawcrook conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance PSG The local search is essential in every Crawcrook conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your new home. The search will provide data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
Back In 2004, I bought a leasehold flat in Crawcrook. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Crawcrook who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Crawcrook conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I inherited a split level flat in Crawcrook, conveyancing was carried out January 2007. How much will my lease extension cost? Similar properties in Crawcrook with over 90 years remaining are worth £181,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ceases on 21st October 2076
With only 51 years unexpired we estimate the premium for your lease extension to span between £30,400 and £35,200 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.
Do I cancel the direct debit for my mortgage with Bank of Ireland once a completion date for my home sale in Crawcrook has been agreed?
No, you must keep meeting any mortgage sums to Bank of Ireland until the mortgage is discharged out of the proceeds of sale as part of your Crawcrook conveyancing.