In what way does my ID and proof of funds have anything to do with my conveyancing in Finsbury Park? Why is this being asked of me?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Finsbury Park. Nowadays you can not proceed with any conveyancing process if you have not handing over proof of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a bank statement. Remember if you are supplying your driving licence as evidence of identification it needs to be both the paper section as well as the photo card part, one is not acceptable in the absence of the other.
Evidence of the source of funds is necessary under Money Laundering Regulations. You should not be offended when when this is requested of you as your lawyer will need to have this information on record. Your Finsbury Park conveyancing lawyer will require evidence of proof of funds prior to accepting any monies from you into their client account and they should also ask further questions concerning the origin of monies.
Is it necessary during the course of the conveyancing process to pop into the offices of the solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Finsbury Park so that I can attend their offices when needed.
Nowadays conveyancing panel lawyers for lenders undertake all of the communications through Royal Mail, e-mail or over the phone. This enables them to conduct the legal work for your home move regardless of where you live in the country. Nevertheless you can check if you have the option of visiting the offices of your conveyancing lawyer if you prefer.
Are there restrictive covenants that are commonly identified as part of conveyancing in Finsbury Park?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Finsbury Park. 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…’
The estate agent has sent us the confirmation of our purchase of a new build flat in Finsbury Park. Conveyancing is necessary evil 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 few leasehold new build questions that you may expect your new-build leasehold conveyancing in Finsbury Park
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I decided to have a survey carried out on a house in Finsbury Park in advance of appointing conveyancers. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some lenders tend refuse to grant a loan on this type of property.
It depends who your proposed lender is. HSBC has different instructions for example to Nationwide. Should you wish to telephone us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Finsbury Park. Conveyancing will be smoother if you use a solicitor in Finsbury Park especially if they are familiar with such properties in Finsbury Park.
My nephew is just in the process of moving home, the home loan was agreed last week in principle. One the seller agreed the offer on the apartment we rang the bank to progress the mortgage application. I was shocked to discover that mortgage companies do not accept all solicitor, they have to be on a list, is this legal?
Lenders ordinarily restrict either the type or the number of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Finsbury Park property lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.