What does my ID and proof of funds have anything to do with my conveyancing in Blakedown? What am I being asked for?
Blakedown conveyancing solicitors as well as nationwide property practitioners throughout the UK have a duty under money laundering regulations to check the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and evidence of address (usually a Bank Statement no more than three months).
Confirmation of source of monies is also necessary in accordance with the money laundering laws as solicitors are mandated to ensure that the money you are using to purchase a property (be it the exchange deposit or the total purchase amount if you are a cash purchaser) has come from an acceptable source (such as employment savings) as opposed to the proceeds of illegitimate activity.
What happens if my lawyer’s firm is removed from the Lloyds Solicitor panel ahead of completing my conveyancing in Blakedown?
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 for a fee.
Forgive me if this question is silly but I am unseasoned as a 1st time purchaser of a two bedroom flat in Blakedown. Do I collect the keys to the premises on the completion date from my lawyer? If so, I will find a local conveyancing solicitor in Blakedown?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the seller's solicitors, and shortly after the monies have arrived, you should be able to pick up the keys from the selling Agents and move into your new home. This tends to happen early afternoon.
is it true that all Blakedown solicitor firms on the Virgin Money conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Virgin Money conveyancing panel they would need to be regulated by the SRA. Some banks do list licenced conveyancers on their panel in which case such practice would be regulated by the CLC.
We have agreed to purchase a house in Blakedown. An unusual aspect is that the roof has a solar panel. Santander have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Santander your lawyer must comply with the conveyancing instructions set out in Section 2 of UK Finance Lenders’ Handbook for Santander. The Council of Mortgage Lenders’ Handbook sets out minimum specifications for solar panel roof-space leases, and conveyancers are required to report to Santander where a lease does not meet these provisions. The specifications relate to the installation of panels on properties countrywide and is not restricted to Blakedown.
I appreciate that there are debates on Chancel Insurance on online forums. Am I compelled to have this when purchasing a house in Blakedown? or I am told that there is a law dating back centuries that could mean that homeowners residing in a parish church boundary will be compelled to pay for maintenance towards the chancel within the church. Is this appropriate for conveyancing in Blakedown?
Unless a previous purchase of the premises took place after 12 October 2013 you may take it that conveyancing practitioners carrying out conveyancing in Blakedown to continue to recommend a chancel search and or insurance against a claim.
I am a negotiator for a long established estate agency in Blakedown where we have witnessed a few leasehold sales put at risk due to short leases. I have received contradictory information from local Blakedown conveyancing solicitors. Could you clarify whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Blakedown Leasehold Conveyancing - Examples of Questions you should ask before Purchasing
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Are any of leasehold owners in arrears of their service charge payments? The answer will be useful as a) areas could cause problems in the building as the common areas may begin to deteriorate if maintenance are not paid for b) if the tenants have a dispute with the running of the building you will want to have all the details Most Blakedown leasehold properties will incur a service bill for maintenance of the block levied on behalf of the freeholder. Where you purchase the flat you will have to meet this contribution, normally quarterly accross the year. This could differ from two or three hundred pounds to thousands of pounds for large purpose-built blocks. In all likelihood there will be a ground rent for you to pay annual, this is usually not a exorbitant figure, say about £25-£75 but you need to enquire it because occasionally it could be many hundreds of pounds.
Is it true that a Blakedown conveyancing company has court proceedings brought against them by a client for not carrying out the appropriate conveyancing investigations?
We are not aware of such a Blakedown conveyancing claim but it has been reported that, clients purchasing a home elsewhere in England successfully won a claim against their lawyer as a consequence of development plans to erect a wind farm failing to be identified in conveyancing searches.
If you are contemplating buying a home in Blakedown It is critical that your solicitor purchase all Blakedown conveyancing searches needed to ensure you have relevant and current information ahead of purchasing a home in Blakedown.