The sellers of the property we are looking to purchase have appointed a conveyancing solicitor in Welshpool who has suggested a preliminary contract with a non-refundable deposit 6,000. Are such agreements promoted for Welshpool conveyancing transactions?
Exclusivity agreements are contracts between a home seller and purchaser giving the buyer the sole right to the sale of the property within a prescribed time frame. For all intents and purposes, a lock out is a document stating that you will have a contract at a later date being the contract for the actual sale. It tends to be used for buyer confidence though in many situations, the owner may stand to benefit from such agreements as well. There are many positives and negatives to using them but you need to check with your conveyancer but note that it may result in incurring more in conveyancing charges. For this these agreements are rare in relation to conveyancing in Welshpool.
In what way does my ID and proof of funds have anything to do with my conveyancing in Welshpool? Is this really warranted?
Welshpool conveyancing solicitors as well as nationwide property lawyers accross the UK have an obligation under Anti-terror and anti-money-laundering rules to check the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and proof of address (typically a Bank Statement no more than three months).
Confirmation of source of funds is also necessary in accordance with the money laundering laws as solicitors are obliged to ensure that the money you are utilising to buy a property (whether it be the deposit for exchange or the full purchase price if you are a cash purchaser) has originated from a reputable source (such as employment savings) rather than the fruits of criminal activity.
I have paid off my mortgage with Yorkshire BS. I assume I don't need a Welshpool property lawyer on the Yorkshire BS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Welshpool. I have a mortgage offer with Bank of Ireland. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
Planning on purchasing a maisonette in Welshpool. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Welshpool lawyer is on the UBS conveyancing panel.
I used Action Conveyancing a few years past for my conveyancing in Welshpool. I now require my file but the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Welshpool of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I decided to have a survey done on a property in Welshpool before appointing solicitors. I have been told that there is a flying freehold aspect to the property. My surveyor has said that some lenders will refuse to grant a mortgage on such a premises.
It depends who your proposed lender is. Lloyds has different requirements for example to Halifax. Should you wish to telephone us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Welshpool. Conveyancing will be smoother if you use a solicitor in Welshpool especially if they are accustomed to such properties in Welshpool.
In what way does the Landlord & Tenant Act 1954 impact my business premises in Welshpool and how can your lawyers assist?
The particular law that you refer to provides security of tenure to commercial tenants, giving them the legal entitlement to apply to court for a continuation of occupancy at the end of an expired lease. There are limited grounds where a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Welshpool is one of the many areas of the UK in which the firms we work with have offices