What does my ID and proof of funds have anything to do with my conveyancing in March? Why is this being asked of me?
March conveyancing solicitors as well as nationwide property lawyers accross the UK have a duty under money laundering regulations to verify the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and evidence of address (typically a Bank Statement no older than three months).
Evidence of the origin of funds is also necessary under the money laundering regulations as conveyancers are mandated to check that the funds you are utilising to buy a property (be it the exchange deposit or the total purchase price if you are buying mortgage free) has come from legitimate source (such as an inheritance) and is not the proceeds of criminal activity.
My apartment in March is up for sale and I have a purchaser. Will the property lawyer need to be required to be on the Barclays conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Barclays conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
My aunt informed me that in purchasing a property in March there could be a number of restrictions limiting what one can do in terms of external changes to a property. Is this right?
We are aware of anumerous of properties in March which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in March should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We had appointed conveyancing lawyers with offices in March on the Virgin Money solicitor panel. They are now charging me a supplemental fee for the legal aspects of the Virgin Money mortgage. Is this a supplemental conveyancing fee specified by Virgin Money?
As unfair as it may seem, as long as it’s in their Terms of Engagement or estimate then yes your lawyer may levy a fee for this. The fee is not set by Virgin Money but by your March property lawyer. Plenty of firms on the Virgin Money panel will quote an ‘acting for lender’ fee but many practices incorporate it on their overall fee.
I'm spending time viewing houses in March and I am about to put in an offer. Should I already have a conveyancer appointed at this stage? I am planning to take a home loan with Santander.
It would be sensible to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are seeking a mortgage with Santander, ask your prospective lawyers if they are on the Santander conveyancing panel otherwise they can't do the mortgage legal work.
Me and my brother own a 4 bedroom Victorian property in March. Conveyancing solicitor acted for me and Virgin Money. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should review 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 March and other areas of 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 enquire as to the situation with the conveyancing practitioner who conducted the work.
My company is wishing to take over a lease of a shop on the high street. Can you recommend lawyers offering no-sale-no costs for commercial conveyancing in March for under 1500k?
We can recommend firms who have an in-depth of experience of commercial conveyancing in March, including the disposal and acquisition of businesses as well as simply premises. Whether you are hoping to buy or lease a shop, pub, restaurant, office, retail premises or a complete business we will find you the right firm. Regarding the fees these will vary based on the structure and heads of terms of the proposed transaction. Let us have your contact information or telephone so as to enable us to furnish you with a detailed commercial conveyancing quote.
I’m about to sell my 2 bed apartment in March. Conveyancing solicitors are to be appointed soon, however I have just had a quarterly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the maintenance contribution as you normally would because all ground rent and maintenance charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I bought a studio flat in March, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in March with a long lease are worth £260,000. The ground rent is £45 invoiced every year. The lease runs out on 21st October 2095
With just 74 years unexpired the likely cost is going to be between £8,600 and £9,800 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.