What does my ID and proof of funds have anything to do with my conveyancing in Southgate? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Southgate conveyancing firm will require proof of identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility account evidencing where you live.
Under Money Laundering Regulations, conveyancers are obliged by law to investigate not simply the ID of conveyancing clients but also the origin of monies that they receive in respect of any matter. An unwillingness to disclose this may lead to your lawyer cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to make a disclosure to the appropriate authorities should they believe that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
How does conveyancing in Southgate differ for new build properties?
Most buyers of new build property in Southgate contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is built. This is because new home sellers in Southgate tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Southgate or who has acted in the same development.
I decided to have a survey done on a house in Southgate prior to retaining solicitors. I have been advised that there is a flying freehold aspect to the house. Our surveyor advised that some banks will not grant a loan on this type of house.
It varies from the lender to lender. Santander has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Southgate. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Southgate to see if the conveyancing will be more expensive.
What does commercial conveyancing in Southgate cover?
Non domestic conveyancing in Southgate covers a broad array of advice, offered by regulated solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I need to instruct a conveyancing practitioner in Southgate for my home move. Can I review a solicitor's complaints history with the profession’s regulator?
Anyone may read presented Solicitor Regulator Association (SRA) decisions arising from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find details about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The regulator sometimes recorded telephone calls for training requirements.
I have been told by numerous estate agents that it may take six to eight weeks for Southgate conveyancing to complete.This was 3 ago. The draft contract was only received from the vendors conveyancing practitioner yesterday so does the time start running now?
You need to be realistic about timescales. Conveyancing in Southgate takes on average about two months. This timeframe is not because solicitor are slow and purposely delay matters. The level of money involved in purchasing any residence is so high, the purchaser's conveyancing practitioner having to carry out a wide range of queries, searches and other checks to protect the buyer and their lender (if there is to be a mortgage) from expensive, avoidable problems. These checks involves seeking information from various third parties, for example other property lawyer, local councils, private companies, lenders. Many of these are efficient. Others aren't. And remember, no matter how quickly your conveyancing practitioner do their work, if the people you are purchasing from or are selling to aren't ready, nothing can go ahead until they are up to speed.