In what way does my ID and proof of funds have anything to do with my conveyancing in Kings Norton? Why is this being asked of me?
Kings Norton conveyancing solicitors and indeed property practitioners accross the UK have a duty under money laundering regulations to check the identity of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and evidence of address (usually a Bank Statement less than 3 months old).
Evidence of the origin of monies is also necessary in accordance with the money laundering regulations as lawyers are duty bound to check that the monies you are using to acquire a property (be it the exchange deposit or the total purchase amount where you are a cash purchaser) has come from legitimate source (such as employment savings) rather than the proceeds of illegitimate activity.
Various online forums that I have visited warn that are the number one cause of delay in Kings Norton conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in Kings Norton.
I am looking for a ground for flat up to £305k and found one close by in Kings Norton I like with amenity areas and station nearby, the downside is that it's only got 52 years unexpired on the lease. There is not much else in Kings Norton for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
Should I be concerned that estate agents that I am dealing with are encouraging me to use an online conveyancing firm rather than a High Street Kings Norton conveyancing firm?
As is the case with lots of service providers, often suggestions from relatives can be most helpful. Nevertheless there are many players in a conveyancing matter; estate agents, financial adviser and lenders may recommend solicitors to retain. On occasion the conveyancers might be known to one of the organisations as experts in their field, but sometimes there may be a commercial relationship behind the recommendation. You are free to appoint your own lawyer. Don't forget that most lenders specify a panel list of solicitors you are obliged to use for the lender related work in your conveyancing.
My brother has suggested that I use his lawyers for conveyancing in Kings Norton. Should I use them?
There are no two ways about it the best way to find a conveyancing solicitor is to get feedback from friends or family who have experience in using the solicitor that you are contemplating using.
My wife and I today found out that one of the partners of the solicitors acting on the purchase conveyancing in Kings Norton is is the father of the owners that we are purchasing from. Is this permitted?
Provided there is no conflict of interest this is allowable. If you are requiring a home loan then the lender may have a say as many mortgage companies have specific instructions on this. For example for RBS - Direct Line as of 20/11/2022, the requirements read as follows :