In what way does my ID and proof of funds have anything to do with my conveyancing in St Albans? Is this really necessary?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identity of the potential client they are dealing with prior to agreeing to accepting their conveyancing business. The Terms of Engagement that you need to sign should reaffirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you refuse to supply ID verification documents, your solicitor will not be able to take you on as a client.
Can you clarify what the consequences are if my solicitor is removed from the Leeds Building Society Solicitor panel ahead of completing my conveyancing in St Albans?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Due to the guidance of my in-laws I had a survey completed on a property in St Albans in advance of retaining lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some mortgage companies tend refuse to issue a loan on this type of premises.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. Should you wish to telephone us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in St Albans. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in St Albans to see if the conveyancing will be more expensive.
Do I need to be concerned about 3rd parties that I am dealing with are encouraging me to use a nationwide conveyancing firm as opposed to a local St Albans conveyancing company?
As is the case with many professional services, often referrals from family and friends can be very helpful. Nevertheless there are numerous people with a vested interest in a conveyancing transaction; estate agents, mortgage brokers and lenders may put forward solicitors to appoint. On occasion these conveyancers might be known to one of the organisations as experts in their field, but sometimes there is an underlying commercial relationship behind the endorsement. You are at liberty to select your own lawyer. However, bear in mind that the majority of lenders specify a panel list of solicitors you are obliged to use for the mortgage related work in your conveyancing.
Planning to complete next month on a leasehold property in St Albans. Conveyancing lawyers assured me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in St Albans should include some of the following:
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You should have a good understanding of the insurance requirements What options are available to the landlord where you have contravened the provisions of the lease? You should be advised what constitutes a Nuisance in the lease Rent payments - what is due and when you need to pay, and also know whether this is subject to change You should receive a copy of the lease
Leasehold Conveyancing in St Albans - A selection of Queries Prior to Purchasing
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Who takes charge for maintaining and repairing the block? Does the lease contain onerous restrictions? Are any of leasehold owners in arrears of their service charge payments?
My wife and I have recently appointed a conveyancing solicitor in St Albans. I need to find out if they are on the lender's approved list of lawyers. Can you advise?
You should phone your conveyancer to check if they are on the lender's approved list. Alternatively please get in touch with us and we can investigate and revert. If they are not on the lender panel we can certainly arrange a quality conveyancing solicitor in St Albans on the panel for your lender.