In what way does my ID and proof of funds have anything to do with my conveyancing in Heywood? What am I being asked for?
Heywood conveyancing solicitors and indeed property practitioners throughout the UK have a duty under Anti-terror and anti-money-laundering rules to check the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and proof of address (usually a Bank Statement no older than three months).
Confirmation of the origin of funds is also required in accordance with the money laundering regulations as conveyancers have a duty to ensure that the monies you are using to purchase a property (whether it be the deposit for exchange or the full purchase monies where you are buying mortgage free) has originated from a reputable source (such as employment savings) as opposed to the fruits of illegitimate activity.
We wanted to use a conveyancing solicitor in Heywood for our home move. Our financial adviser has since notified us that our bank Chelsea Building Society won't deal with them. Why is this not regarded as unfair competition?
A mortgage company may require an approved solicitor act for it. Borrowers are liable to bear the charges for this. Do use our tool to find a solicitor to carry conveyancing in Heywood on the Chelsea Building Society approved list of solicitors.
is it true that all Heywood solicitor firms on the Barclays conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Barclays approved list of solicitors they would need to be overseen by the SRA. Some mortgage companies do list licenced conveyancers on their panel and in such a situation the practice would be overseen by the CLC.
We previously selected conveyancers locally in Heywood on the Bank of Ireland solicitor panel. They are now charging me a separate charge for the legal aspects of the Bank of Ireland mortgage. Is this an additional conveyancing fee set by Bank of Ireland?
As unfair as it may seem, as long as it’s in their Terms of Engagement or estimate then yes your solicitor is entitled to charge a fee for this. The charge is not dictated by Bank of Ireland but by your Heywood lawyer. Plenty of firms on the Bank of Ireland panel will charge an ‘acting for lender’ fee but some practices include it on their overall fee.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Heywood conveyancer on the Leeds Building Society panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Leeds Building Society 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 Leeds Building Society mortgage from the register. Leeds Building Society, 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 Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
The deeds to our property are lost. The lawyers who did the conveyancing in Heywood 10 years ago are no longer around. Will I be able to sell the house?
Nowadays there are duplicates made of almost everything, and your conveyancer should be aware precisely where to locate all the relevant paperwork so you may purchase or dispose of your property without any difficulty. If copies are not available, your conveyancer can arrange cover in the form of insurance or indemnities against future claims on the premises.
About to purchase a new build flat in Heywood. Conveyancing is a frightening process 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.
Here are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Heywood
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Can you provide any advice for leasehold conveyancing in Heywood with the aim of expediting the sale process?
- Much of the delay in leasehold conveyancing in Heywood can be avoided where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors. Some Heywood leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unsettled. In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Heywood leases often stipulate that internal structural changes or installing wooden flooring require a licence from the Landlord acquiescing to such alterations. Where you dont have the paperwork in place you should not contact the landlord without contacting your conveyancer before hand. The majority of freeholders or Management Companies in Heywood levy fees for providing management packs for a leasehold home. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Heywood.
I am the registered owner of a 1 bedroom flat in Heywood, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Heywood with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease finishes on 21st October 2091
With only 69 years remaining on your lease we estimate the price of your lease extension to range between £9,500 and £11,000 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.