In what way does my ID and proof of funds have anything to do with my conveyancing in Daventry? What am I being asked for?
Daventry conveyancing solicitors and indeed property lawyers throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to check the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to disclose two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill less than 3 months old).
Confirmation of the origin of monies is also necessary under the money laundering regulations as lawyers are mandated to investigate that the funds you are using to buy a property (whether it be the deposit for exchange or the full purchase price if you are buying mortgage free) has come from an acceptable source (such as employment savings) rather than the proceeds of criminal activity.
I'm the only recipient of my late mum's estate with all property in now in my sole name, including the my former home in Daventry. The Daventry property was put into my name in November. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship could be regarded the same way as if I'd bought the house in November. Do I have to wait 6 months to sell?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How sensible a view mortgage companies take of it, depend on the bank as this clause primarily exists to pick up on subsales or the wholesaling and assigning of property.
After months of negotiation I have agreed a price on an apartment in Daventry. My financial adviser suggested a property lawyer. I paid an upfront payment of £200. A couple of days later, the solicitor contacted me sheepishly admitting that they were not on the Clydesdale conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Clydesdale panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Planning on purchasing a apartment in Daventry. 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 Nationwide 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 Daventry lawyer is on the Nationwide conveyancing panel.
Do commercial conveyancing searches reveal planned roadworks that could affect a commercial land in Daventry?
Its becoming the norm that commercial conveyancing solicitors in Daventry will conduct a SiteSolutions Highways report as it reduces the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in Daventry. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Daventry.
For each commercial conveyancing transaction in Daventry it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to Daventry commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Daventry.
Are there restrictive covenants that are commonly picked up during conveyancing in Daventry?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Daventry. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Daventry is the location of the property. Is there any advice you can give?
Flying freeholds in Daventry are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Daventry you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Daventry may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Our financial adviser has recommended their property lawyer for the conveyancing in Daventry - won’t it be easier to just use them?
It is worth checking if the selling agent is recommending a solicitor or introducing to a property lawyer. There are plenty of Daventry estate agents who recommend two or three Daventry conveyancing firms and get nothing from it.