What does my ID and proof of funds have anything to do with my conveyancing in Emerson Park? What am I being asked for?
Emerson Park conveyancing solicitors and indeed property practitioners accross the UK have an obligation under Anti-terror and anti-money-laundering rules to check the identity of any client with a view to ensure that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and proof of address (typically a Utility Bill less than 3 months old).
Evidence of the origin of funds is also necessary under the money laundering laws as conveyancers are mandated to check that the monies you are utilising to acquire a property (whether it be the deposit for exchange or the total purchase price if you are buying without a mortgage) has come from legitimate source (such as an inheritance) and is not the proceeds of illegitimate activity.
is it true that all Emerson Park conveyancing solicitors on the TSB conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the TSB conveyancing panel they would need to be governed by the SRA. Some mortgage companies do list licenced conveyancers on their panel and in that case the firms would be governed by the CLC.
We have agreed to purchase a house in Emerson Park. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Santander be concerned?
Given that you are obtaining a mortgage with Santander your lawyer must follow the conveyancing instructions set out in Part 2 of UK Finance Lenders’ Handbook for Santander. The Council of Mortgage Lenders’ Handbook includes minimum conditions for solar panel roof-space leases, and conveyancers are required to report to Santander where a lease does not comply with these conditions. The provisions relate to the installation of panels on properties countrywide and is not isolated to Emerson Park.
I have today made my last payment due on my mortgage with Principality. I assume I don't need a Emerson Park conveyancer on the Principality panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Principality 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 Principality mortgage from the register. Principality, 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 Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
My friend recommended that if I am buying in Emerson Park I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Emerson Park conveyancing searches. It is a large report of more than thirty pages, listing and detailing significant information about Emerson Park around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Emerson Park Education with plans and statistics, Local Amenities and other useful information regarding Emerson Park.
How does conveyancing in Emerson Park differ for newly converted properties?
Most buyers of new build residence in Emerson Park come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Emerson Park typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Emerson Park or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Emerson Park is where the house is located. Is there any advice you can impart?
Flying freeholds in Emerson Park are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Emerson Park you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Emerson Park may ascertain 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 premises.
I need to appoint a conveyancing solicitor for sale conveyancing in Emerson Park. I happened to discover a web site which appears to be the ideal offering If it is possible to get all formalities completed via web that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?