What does my ID and proof of funds have anything to do with my conveyancing in Rednal? What am I being asked for?
It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Rednal. Nowadays you will not be able to complete any conveyancing process if you have not handing over evidence of your identity. This usually takes the form of a either your passport or driving licence plus a council tax bill. Please note that if you are supplying your driving licence as proof of identification it needs to be both the paper part as well as the photo card part, one is not satisfactory without the other.
Proof of the origin of money is necessary in accordance with the Money Laundering Regulations. You should not be offended when you are asked to produce this as your lawyer will need to have this information on file. Your Rednal conveyancing lawyer will need to see evidence of proof of funds before they are able to accept any monies from you into their client account and they should also ask further queries regarding the origin of funds.
Do I have to pop into the offices of the solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in Rednal so that I can pop in to their offices if required.
These days approved lawyers for lenders carry out their work through Royal Mail, internet or over the phone. This means that they can undertake the legal work for your home move regardless of where you live in the country. Nevertheless you should check if you can still book an appointment to visit conveyancing lawyer if just in case this is required.
Will commercial conveyancing searches disclose planned roadworks that may affect a commercial premises in Rednal?
Its becoming the norm that commercial conveyancing solicitors in Rednal will order a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Rednal. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Rednal.
For every commercial conveyancing transaction in Rednal it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may result in delays to Rednal commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Rednal.
It has been three months since my purchase conveyancing in Rednal took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build flat in Rednal. Conveyancing is daunting 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 legal work.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Rednal
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan. 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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I have miscalculated my finances and am a few grand short a 10% deposit on my house purchase in Rednal , but I am anxious exchange. What can I do?
You can agree a smaller deposit. Many property owners will agree to a lesser deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment