In what way does my ID and proof of funds have anything to do with my conveyancing in Alnmouth? Why is this being asked of me?
It is indeed that case that these requests have nothing to do with conveyancing in Alnmouth. However these days you can not proceed with any conveyancing transaction in the absence handing over evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a council tax bill. Please note that if you are providing your driving licence as proof of identification it needs to be both the paper element as well as the photo card part, one is not sufficient in the absence of the other.
Evidence of the source of monies is mandated under Money Laundering Regulations. You should not be offended when you are asked to produce this as your conveyancer will need to have this information on record. Your Alnmouth conveyancing lawyer will require evidence of proof of funds prior to accepting any funds from you into their client account and they will also ask additional queries regarding the source of monies.
My property lawyer in Alnmouth has never been on on the Skipton Building Society Solicitor Panel. Is it possible for me to continue with my family solicitor even though they are excluded from the Skipton Building Society approved list?
Your options are as follows:
- Carry on with your existing Alnmouth solicitors but Skipton Building Society will need to retain a solicitor on their panel. This will result in additional total legal charges and cause frustration.
- Find an alternative practitioner to act in the purchase, not forgetting to check they are Convince your lawyer to do everything within their powers to join the Skipton Building Society conveyancing panel
Are there restrictive covenants that are commonly picked up during conveyancing in Alnmouth?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Alnmouth. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Alnmouth differ for new build properties?
Most buyers of new build or newly converted property in Alnmouth contact us having been asked by the developer to exchange contracts and commit to the purchase even before the house is finished. This is because house builders in Alnmouth tend to buy the real estate, 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 Alnmouth or who has acted in the same development.
I am looking for a ground for flat up to £305k and identified one round the corner in Alnmouth I like with open areas and transport links nearby, however it only has 61 years on the lease. There is not much else in Alnmouth for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a mortgage the remaining unexpired lease term may be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
My conveyancing in Alnmouth completes on Friday, yet the vendors I am buying from wishes to vacate on the Saturday afternoon. Should I agree to this?
It is not possible to complete on a Saturday because the bank systems are not operating.