What does my ID and proof of funds have anything to do with my conveyancing in Cricklewood? What am I being asked for?
Cricklewood conveyancing solicitors as well as nationwide property practitioners accross the UK have a duty under Anti-terror and anti-money-laundering rules to check the identity of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and evidence of address (usually a Bank Statement less than 3 months old).
Proof of source of funds is also necessary under the money laundering statutes as lawyers are required to investigate that the money you are utilising to purchase a property (whether it be the deposit for exchange or the total purchase monies if you are a cash purchaser) has come from legitimate source (such as an inheritance) rather than the product of criminal behaviour.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Cricklewood. My lender is Virgin
Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 17/7/2019, the requirements read as follows :
I'm the sole beneficiary of my late father’s estate and I have everything in my name now, including the my former home in Cricklewood. Conveyancing formalities meant that the Land Registry date was in June. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship could be considered the same way as though I had purchased the house in June. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. many banks would take a sensible view as this clause is primarily there to capture the purchase and immediately sell or the flipping of properties.
When it comes to mortgage companies such as Nationwide, do Cricklewood conveyancers have to pay a fee to be on the conveyancing panel?
We are not aware of any bank fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
Intending to buy a apartment in Cricklewood. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Co-operative conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Cricklewood conveyancer is on the Co-operative conveyancing panel.
Despite weeks of looking the Title Certificate and documents to my home can not be found. The solicitors who did the conveyancing in Cricklewood 5 years ago have long since closed. What are my next steps?
These day there are copies made of almost everything, and your conveyancer will know exactly where to find all the relevant documentation so you can purchase or sell your property without any difficulty. If duplicates can’t be found, your solicitor may be able to put in place insurance or indemnities protecting you against future claims on the property.
I am buying a new build apartment in Cricklewood. 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 selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Cricklewood
Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are architect prepared.
Due to the guidance of my in-laws I had a survey completed on a house in Cricklewood prior to retaining lawyers. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some lenders will refuse to give a mortgage on such a premises.
It varies from the lender to lender. HSBC has different requirements from Nationwide. Should you wish to telephone us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cricklewood. Conveyancing will be smoother if you use a solicitor in Cricklewood especially if they regularly deal with such properties in Cricklewood.