Our conveyancer has identified a a problem with the lease for the flat we are buying in Bordon. The other side have put forward title insurance as a workaround. We are content with insurance and will pay for it. Our property lawyer says that he must be satisfied that the lender is willing to move forward with this solution. Are we the client or is the bank?
Regardless of the fact that you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the bank are the client. The appropriate lender specifications must be adhered to.
In what way does my ID and proof of funds have anything to do with my conveyancing in Bordon? Why is this being asked of me?
Bordon conveyancing solicitors and indeed property lawyers throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to check the identity of any client with a view to ensure that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and proof of address (typically a Bank Statement no more than three months).
Confirmation of source of funds is also necessary in compliance with the money laundering statutes as solicitors are required to ensure that the monies you are using to acquire a property (be it the exchange deposit or the total purchase monies where you are a cash purchaser) has come from an acceptable source (such as employment savings) as opposed to the fruits of criminal activity.
What is the difference between a licensed conveyancer and conveyancing solicitor in Bordon
There are many recorded licenced Conveyancers in Bordon and Solicitor firms in Bordon who provide Conveyancing services It is important to make clear that the two are regulated professionals specialising in the legal work in the home buying process. Both can conduct other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
When it comes to lenders such as Santander, do Bordon lawyers face a yearly amount to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
I have paid off my mortgage with Aldermore. I assume I don't need a Bordon lawyer on the Aldermore panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Aldermore mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Aldermore mortgage from the register. Aldermore, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
I have recentlyfound out that Arc property Solicitors have been shut down. They conducted my conveyancing in Bordon for a purchase of a leasehold apartment 18 months ago. How can I check that the property is registered correctly in the name of the previous owner?
The easiest method to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bordon conveyancing specialists.
My partner has urged me to use his conveyancing solicitors in Bordon. Do I follow his recommendation?
Much as we are happy to recommend a Bordon conveyancing lawyer it’s preferable to find a conveyancing practitioner is to get guidance from friends or relatives who have used the firm that you are contemplating using.
Should one as executor remove a departed person's name from the title register for a house in Bordon?
Where a Bordon property is jointly owned and one of the proprietors passes away, their name will not immediately be removed from the Land Registry title. You are not required to amend the title as in the event of a disposal you would simply be required to evidence as to the reason the joint owner is missing from the conveyance, typically this is in the form of a grant of probate.
With a view to making things more straight forward in the future you can apply to have the deceased person removed from the title entries by submitting an application to HMLR with proof of the death. There is no charge from the Registry for this service.