In what way does my ID and proof of funds have anything to do with my conveyancing in Purley? Why is this being asked of me?
Purley conveyancing solicitors and indeed property lawyers throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to check the identity 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 identification; proof of identity (typically a Passport or Driving Licence) and evidence of address (typically a Bank Statement less than 3 months old).
Proof of the origin of funds is also necessary under the money laundering statutes as solicitors are obliged to ensure that the monies you are using to buy a property (be it the exchange deposit or the total purchase monies if you are buying mortgage free) has originated from an acceptable source (such as employment savings) and is not the proceeds of illegitimate activity.
Are the BSA planning on creating a searchable register to list law firms on the Melton Mowbray Building Society conveyancing panel for example in Purley?
We are not aware of any plans on the part of the BSA to develop such a register.
Have just purchased a repossessed house at auction in Purley. Conveyancing is necessary. What happens now?
Having legally committed yourself to purchase you will need to choose a conveyancing lawyer quickly as you are faced with a tight a fixed date to complete the purchase. An auction property should have a bespoke legal set of papers. This will include evidence of title and search results. In the case of leasehold premises the legal pack may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to leasehold premises. You must pass this on to the solicitor instructed by you ASAP. You also need to ensure that that you have the requisite funding in place to complete on the date specified in the contract.
Forgive me if this question is silly but I am unseasoned as a first time buyer of a garden flat in Purley. Do I receive the keys to the premises on the completion date from my solicitor? If so, I will instruct a local conveyancing solicitor in Purley?
On the day of completion you do not need to attend the conveyancers office in Purley. Your solicitors will electronically transfer the completion advance to the seller's lawyers, and once they have received this, you will be invited to receive the keys from the selling Agents and move into your new home. Usually this happens between 1 and 3pm.
I have finally had an offer on a maisonette in Purley agreed to, but there is a chain. The vendors have placed an offer on a flat, but it’s not yet tied up, and have viewings of other properties in the pipeline. I have chosen a local conveyancing solicitor in Purley. What should be my next step? When do I get the mortgage application with RBS started?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of £1k, then survey, Purley conveyancing search charges, etc). First, you should ensure that your solicitor is on the RBS approved list. Concerning the subsequent steps this very much dictated by the uniqueness of your case, motivation for this property and on the state of the market. In a buoyant market some purchasers would apply for the mortgage with RBS and pay for the valuation and only if it comes back ok would they ask their property lawyer to press on with the conveyancing in Purley.
Should my lawyer be making enquiries about flooding during the conveyancing in Purley.
Flooding is a growing risk for solicitors dealing with homes in Purley. There are those who acquire a property in Purley, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to offer advice on flood risk, however there are a number of searches that may be initiated by the buyer or by their solicitors which can give them a better appreciation of the risks in Purley. The standard property information forms sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the owner to discover whether the property has suffered from flooding. If the property has been flooded in past which is not notified by the vendor, then a buyer may commence a claim for damages as a result of such an inaccurate answer. The purchaser’s conveyancers should also conduct an environmental search. This will higlight whether there is any known flood risk. If so, more detailed investigations should be initiated.
I decided to have a survey done on a house in Purley in advance of retaining lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some lenders will refuse to give a loan on such a property.
It depends who your proposed lender is. HSBC has different instructions from Nationwide. If you contact us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Purley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Purley to see if the conveyancing costs will increase in light of this.
Is it best to instruct a Purley conveyancing lawyer in close proximity to the house I am purchasing? I have an old university friend who can conduct the legal work but her office is approximately 350kilometers drive away.
The benefit of a high street Purley conveyancing firm is that you can visit the firm to sign documents, present your ID and apply pressure on them where appropriate. They will also have local insight which is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and on the whole were content that should trump using an unfamiliar Purley conveyancing lawyer just because they are based in the area.