What does my ID and proof of funds have anything to do with my conveyancing in Archway? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Archway conveyancing firm will require proof of identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility bill showing your correct address.
In accordance with Money Laundering Regulations, property lawyers are duty bound to ascertain not simply the ID of conveyancing clients but also the origin of monies that they receive in respect of any matter. Refusal to disclose this will result in your solicitor ending their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to inform the relevant authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
Please explain the implications if my solicitor is suspended from the Bank of Ireland Conveyancing panel ahead of completing my conveyancing in Archway?
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.
Have just purchased a probate house at auction in Archway. Conveyancing is necessary. What is next?
Now that you are to in every practical sense signed on the dotted line you must choose a conveyancing solicitor soon as you are facing a pending a drop dead date to complete the property. An auction property will have a bespoke legal set of papers. This should include most,if not all of the documents that your conveyancer requires. If you have purchased leasehold property the legal pack may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to a leasehold property. You must hand this to the lawyer instructed by you as soon as possible. You also need to ensure that you have funds in place to complete on the date specified in the contract.
I am being told by my conveyancer that lack of right of way insurance is necessary on my purchase. What is the level of cover for Archway conveyancing?
The right level of lack of right of way indemnity insurance depends on who your lender is. It would differ for example between National Westminster Bank and Bank of Scotland. Conveyancing solicitors as opposed to members of the public take out such insurances.
The formalities of my remortgage has taken place for my property in Archway. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I am buying a house and the conveyancer has referenced Chancel Repair to which the house could be liable as it falls into the area of such a church. She has mentioned insurance. Is this really appropriate for conveyancing in Archway
Unless a prior acquisition of the house completed post 12 October 2013 you could take it that solicitors delivering conveyancing in Archway to continue to advocate a chancel search and or insurance against a claim.
I was advised by numerous selling agents in Archway to find a solicitor on your site. Is there a financial advantage for Estate Agents to recommend your site ahead of alternative conveyancing organisations?
We refuse to make any financial incentive for pointing buyers and sellers our way. We found it would be just too difficult to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
Do you have any advice for leasehold conveyancing in Archway from the point of view of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Archway can be reduced if you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the buyers’ lawyers. Some Archway leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers. Many freeholders or Management Companies in Archway levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Archway. In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Archway state that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord consenting to such alterations. If you fail to have the paperwork in place do not contact the landlord without contacting your solicitor first.
Following years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Archway. Can we issue an application to the Residential Property Tribunal Service?
Where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to determine the sum to be paid.
An example of a Lease Extension case for a Archway flat is Flat 2A 19 Shepherds Hill in June 2014. The tribunal concluded in accordance with section 48 and schedule 13 of the Leasehold Reform,Housing and Urban Development Act (the 1993 Act) that the premium payable in respect of the grant of a new lease for the Flat be £24,303 (twenty four thousand three hundred and three pounds) This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 67.85 years.