In what way does my ID and proof of funds have anything to do with my conveyancing in Fairlop? What am I being asked for?
Fairlop 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 in order to ensure that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and evidence of address (usually a Bank Statement no older than three months).
Evidence of the origin of funds is also necessary under the money laundering laws as solicitors are required to check that the funds you are using to purchase a property (be it the exchange deposit or the total purchase monies if you are a cash purchaser) has come from an acceptable source (such as an inheritance) rather than the fruits of criminal behaviour.
I am purchasing a garden flat in Fairlop. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Fairlop you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Fairlop.
Me and my brother purchased a semi-detached Georgian house in Fairlop. Conveyancing solicitor acted for me and Barclays Direct. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the exact same address. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Fairlop and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with your conveyancing lawyer who conducted the work.
How does conveyancing in Fairlop differ for new build properties?
Most buyers of new build property in Fairlop come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because developers in Fairlop tend to purchase the land, 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 conveyancers 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 Fairlop or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Fairlop is where the house is located. Can you offer any guidance?
Flying freeholds in Fairlop are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Fairlop you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fairlop 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 property.
I have noted on numerous consumer advice websites that before choosing a conveyancing solicitors they must be approved by your mortgage company. It happens to be my first home move but I have an AIP via HSBC and I already have a family conveyancing solicitor in Fairlop lined up. Will Birmingham Midhshires need an approved solicitor to be selected? If so, where do I find that list so I can pick a conveyancing lawyer in Fairlop?
You should choose a solicitor that is on the Birmingham Midhshires panel. Simply ring your chosen Fairlop conveyancing solicitor and ask if they are on the Birmingham Midhshires panel. If they are not on the panel you have numerous choices open to you here:
- Proceed with your existing Fairlop solicitor but Birmingham Midhshires will need to appoint a conveyancing practitioner from their approved panel. The net impact is additional cost together with probable delay.
- Appoint a new conveyancing practitioner to act in the purchase, making sure they are on the Birmingham Midhshires conveyancing panel.
- Convince your conveyancing practitioner to apply to join the lender panel.