In what way does my ID and proof of funds have anything to do with my conveyancing in Ware? Is this really warranted?
To satisfy the Money Laundering Regulations any Ware conveyancing firm will require evidence of your identity in all conveyancing transactions. This is usually satisfied by provision of a passport and an original bank statement or utility account showing where you reside.
Under Money Laundering Regulations, conveyancers are required to validate not just the identity of conveyancing clients but also the source of monies that they receive in respect of any matter. An unwillingness to disclose this will 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 are duty bound to make a disclosure to the relevant authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
I am buying a garden flat in Ware. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Ware you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Ware.
I have been told by my conveyancer that absentee landlord insurance is required on my purchase. What is the level of cover for Ware conveyancing?
The appropriate level of absentee landlord indemnity insurance should be dictated by who your lender. It would differ for example between Accord Mortgages Ltd and Coventry Building Society. Conveyancing solicitors as opposed to borrowers take out such insurances.
I happen to be the sole recipient of my late grandmother’s estate with all property in now in my sole name, including the my former home in Ware. Conveyancing formalities meant that the Land Registry date was in February. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my property ownership may be treated the same way as though I had purchased the house in February. Is the property unsalable for six months?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. many lenders would take a practical view as this requirement principally exists to pick up on the purchase and immediately sell or the flipping of property.
is it true that all Ware solicitor firms on the UBS conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the UBS conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Some mortgage companies do list licenced conveyancers on their panel in which case such organisation would be regulated by the CLC.
I moved into my flat on 8 March and the transaction details is not yet registered. Any reason for this? My conveyancing solicitor in Ware expressed confidence that it will be concluded in less than a month. Are properties in Ware uniquely lengthy to register?
There is nothing unique about conveyancing in Ware registration formalities. Rather than based on location, timescales can differ subject to the party submitting the application, whether it is in order and whether the Land registry must send notices to any interested parties. At present approximately 80% of such applications are fully addressed in less than three weeks but some can be subject to protracted delays. Registration takes place after the new owner is living at the premises so 'speed' is not typically primary concern but if it is urgent that the the registration takes place urgently then you or your lawyers could speak with the land registry and explain the circumstances.
I am looking for a ground for flat up to £305k and identified one near me in Ware I like with open areas and station in the vicinity, however it's only got 52 remaining years left on the lease. I can't really find anything else in Ware suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan that many years may be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
I'm refinancing my primary property to a BTL loan with Chelsea Building Society and intend to use the remaining equity towards a second house. The location we are interested in is Ware. Will your conveyancers be able to act for both sets of banks and tie in the two deals?
Do use our comparison tool on this site to check that the conveyancers are on the appropriate lender panels. On the basis that they are your lawyer will be able to tie up the two transactions but you should have a chat with you lawyer and make apparent your desired outcome and requirements.