I have given 8 weeks notice to my current landlord and must leave my let out apartment in Malpas by the end of next month. Conveyancing for my house purchase has just started. How realistic is it to complete in three weeks as don't want to have to move into temporary accommodation?
The normal practice is not to serve notice for your lease until exchange of contracts has taken place. Assuming that you have not previously done so, speak to your conveyancer and urge them to they seek the assistance the sellers side, try to get a realistic time scale from them that everyone will look towards
What does my ID and proof of funds have anything to do with my conveyancing in Malpas? What am I being asked for?
To satisfy the Money Laundering Regulations any Malpas 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 evidencing your correct address.
In accordance with Money Laundering Regulations, conveyancing solicitors are required to check not simply the identity of conveyancing clients but also the origin of fund that they receive in respect of any matter. An unwillingness to disclose this will lead to your lawyer ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to inform the appropriate authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
How do I investigate if the solicitor handling my conveyancing in Malpas is on the mortgage lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Nationwide Building Society thus spending £175.00 in another set of conveyancing invoice.
You should take advantage of the find a conveyancing panel solicitor tool on this web page. Please choose the mortgage company and type ‘Malpas’ or your location and you will discover a number of lawyer located in Malpas or by proximity to you.
I acquired my home on 1 April and my personal details are still not registered. Any reason for this? My conveyancing solicitor in Malpas advises it will be dealt with in a couple of weeks. Are titles in Malpas particularly slow to register?
As far as conveyancing in Malpas registration is no faster or slower than the rest of the country. Rather than based on location, timeframes can adjust according to who lodges the application, whether it is in order and whether the Land registry communicate with any 3rd persons or bodies. Currently in the region of 80% of such applications are fully addressed within 12 days but occasionally there can be extensive delays. Historically registration is effected once the buyer has moved in to the premises so an expedited registration is not typically top priority but if there is a degree of urgency associated with the registration then you or your solicitor should contact the land registry and explain the circumstances.
I have been on the look out for a flat up to £245,000 and identified one near me in Malpas I like with amenity areas and transport links in the vicinity, the downside is that it's only got 52 years unexpired on the lease. There is not much else in Malpas for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan the remaining unexpired lease term may be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
I have instructed a Malpas conveyancing solicitor for our house purchase (FTB’s) and have spotted in the terms and conditions that they are not governed by the FCA. Am I right to be worried or is that usually the case with property lawyer?
We can't see why they should be. Most conveyancing practitioner don't lend money. You should check that they are governed by the Solicitors Regulation Authority, who set strict laws covering amounts sitting by them.