What does my ID and proof of funds have anything to do with my conveyancing in Wigston? Why is this being asked of me?
Wigston conveyancing solicitors and indeed property practitioners throughout the UK have a duty under Anti-terror and anti-money-laundering rules to verify the identity of any client with a view to satisfy themselves 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 evidence of address (usually a Bank Statement no more than three months).
Evidence of source of funds is also necessary in accordance with the money laundering statutes as lawyers are mandated to ensure that the monies you are utilising to buy a property (be it the exchange deposit or the full purchase price where you are a cash purchaser) has come from legitimate source (such as an inheritance) as opposed to the fruits of illegitimate behaviour.
What is the difference between a licensed conveyancer and conveyancing solicitor in Wigston
Two types of professional can execute conveyancing in Wigston namely licenced conveyancers or solicitors. Both professionals handle conveyancing services that required to complete the disposal or purchase of property. Both are obliged to carry out Wigston conveyancing on similar quality and guidelines so you can be sure that your conveyancing will be properly administered and that all requisite steps should be correctly followed.
is it true that all Wigston solicitors on the Skipton conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Skipton conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. The majority of mortgage companies do list licenced conveyancers on their panel in which case such practice would be overseen by the CLC.
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Wigston building society branch on numerous occasions and was told it does not impact the mortgage offer and they would lend. My Wigston conveyancing solicitor - who is on the bank conveyancing panel- called to say that they would not lend in accordance with their published requirements. Who do I believe?
As long as the lawyer is on the mortgage company approved list, they must follow the CML Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I used Arc property Solicitors several years ago for my conveyancing in Wigston. I now require my papers however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate 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 Wigston 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've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a straight forward, no chain conveyancing. Wigston is where the house is located. Can you shed any light on this issue?
Flying freeholds in Wigston are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wigston you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wigston may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My husband and I are one month into a leasehold purchase having been recommend to solicitors by the local agent to do our conveyancing in Wigston. We are not happy. Can you help me find new conveyancers?
A lawyer would need to be really bad in order to consider replacing them. Has the mortgage offer been generated? In the event that it has you must make them aware of the new contact details and ensure the loan are re-issued. Your new solicitor ideally should be on the banks panel to avoid added expenses and complications. That should be your first question of the new lawyers. The search tool can assist you in finding a lender approved conveyancer for your home move in Wigston
I've recently bought a leasehold house in Wigston. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Wigston Leasehold Conveyancing - Examples of Questions you should ask Prior to buying
It would be wise to investigate if there is anything that is prohibited in the lease. For instance it is reasonably common in Wigston leases that pets are not permitted in certain buildings in Wigston. If you love the propertyin Wigston however your dog is not allowed to live with you then you will be faced difficult compromise. What prohibitions exist in the Wigston Lease? What is the the remaining lease term?