I plan on buying a maisonette in Bollington. My Solicitor is not on the mortgage company conveyancing list. Can I still retain my Bollington conveyancing solicitor even though they are not on the mortgage company panel?
You must appoint a solicitor to complete the legal work required when you need a loan to purchase your home. The conveyancing practitioner will carry out all the relevant legal checks on the property, ensuring that you will be properly registered as the owner and ensure that all the required mortgage documentation is in place. You may select a Bollington conveyancing practitioner of your choosing. Nevertheless, if the property lawyer selected is not on the mortgage company approved list supplemental charges will be incurred as separate legal representation will be need by the lender. Bank panel applications can be submitted, so if your solicitor has not historically sought membership they should do so.
In what way does my ID and proof of funds have anything to do with my conveyancing in Bollington? What am I being asked for?
Bollington conveyancing solicitors and indeed property practitioners throughout the UK have an obligation under money laundering regulations to check the ID 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 identification; proof of ID (typically a Passport or Driving Licence) and evidence of address (typically a Bank Statement no more than three months).
Evidence of the origin of monies is also required under the money laundering statutes as lawyers are obliged to investigate that the monies you are using to purchase a property (whether it be the deposit for exchange or the full purchase amount where you are buying without a mortgage) has originated from a reputable source (such as an inheritance) and is not the fruits of criminal behaviour.
My grandmother passed away last year and as sole heir and executor I was left the house in Bollington. The house had a small mortgage remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this possible?
If you intend to re-mortgage then Virgin Money will require that you use a conveyancer on the Virgin Money conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Virgin Money conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Virgin Money mortgage is registered as a charge at the Land Registry.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Bollington is the location of the property. Can you offer any guidance?
Flying freeholds in Bollington are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bollington you would need to get your solicitor to go 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 Bollington may determine 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.
I own a leasehold flat in Bollington. Conveyancing and Norwich and Peterborough Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Bollington who acted for me is not around. Any advice?
First make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Bollington conveyancing solicitor to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Leasehold Conveyancing in Bollington - Sample of Questions you should ask before Purchasing
-
Are any of leasehold owners in arrears of their service charge liability? The best form of lease arrangement is where the freehold reversion is owned by the leaseholders. In this scenario the lessees benefit from being in charge if their destiny and although a managing agent is often employed where the building is bigger than a house conversion, the managing agent is directed by the tenants. Make sure you enquire if there is anything that is prohibited in the lease. For instance it is very common in Bollington leases that pets are not allowed in certain buildings in Bollington. If you like the flatin Bollington yet your dog can’t move with you then you will be presented with a hard determination.
Can you set a few of specific benefits to choosing a local solicitor in Bollington
Many buyers and sellers in Bollington select a nearby high street conveyancing practitioner so that they can visit in the event that they have concerns, and to collect documents rather than run the risk of relying on the post.
We would suggest that there is a distinct advantage when opting for a conveyancer local to the premises you are planning to purchase, due to the in-depth knowledge of the locality and possible local concerns - however this is debatable. Most conveyancers are now online and may be based anywhere.