In what way does my ID and proof of funds have anything to do with my conveyancing in Enfield? Is this really warranted?
In order to comply with Money Laundering Regulations any Enfield conveyancing firm will require proof of identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility bill showing where you live.
In accordance with Money Laundering Regulations, conveyancers are duty bound to check not simply the ID of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this will lead to your conveyancer cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to inform the appropriate authorities should they consider that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
My aunt passed away 10 months ago and as sole heir and executor I was left the property in Enfield. The house had a small mortgage left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Bank of Ireland, pay off the mortgage. Is this allowed?
Where you intend to refinance then Bank of Ireland will require that you use a conveyancer on the Bank of Ireland conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Bank of Ireland conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Bank of Ireland mortgage is registered as a charge at the Land Registry.
I bought my house on 16 June and my personal details is yet to be on the land registry website. Should I be concerned? My conveyancing solicitor in Enfield said it will be recorded in a couple of weeks. Are transfers in Enfield particularly slow to register?
There is nothing unique when it comes to conveyancing in Enfield registration formalities. Rather than based on location, timeframes can vary according to the party submitting the application, whether there are errors and if the Land registry need to notify any 3rd parties. At present approximately 80% of submission are fully dealt with within two weeks but occasionally there can be longer delays. Registration occurs after the new owner has moved in to the property so post completion formalities is not typically primary concern yet if it is urgent that the the registration takes place urgently then you or your conveyancer could communicate with the Registry to express the reasoning for an expedited registration.
Over the last few months I have been searching for a ground for flat up to £305k and found one close by in Enfield I like with open areas and station in the vicinity, the downside is that it only has 52 years on the lease. I can't really find anything else in Enfield in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you require a home loan the shortness of the lease will be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
Hoping to buy a property located in Enfield and I am already nervous. I couldn't find anything specific about Enfield. Conveyancing will be needed in due course but do you know about the Enfield area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Enfield. In the meantime here are some basic statistics that we found
We are 3 weeks into a leasehold purchase having been recommend to conveyancers by the local agent to handle our conveyancing in Enfield. We are not happy. Can you help me find new solicitors?
They would need to be very poor to suggest changing them. Has the mortgage offer been sent? In the event that it has you must make them aware of the new contact details and have the offer are re-sent. Your solicitor ideally should be on the banks approved list to avoid added costs and frustration. So that should be your first question of the new conveyancers. The find a solicitor tool will assist you in finding a bank approved conveyancer for your conveyancing in Enfield