In what way does my ID and proof of funds have anything to do with my conveyancing in Broadway? Why is this being asked of me?
Broadway conveyancing solicitors and indeed property lawyers throughout the UK have an obligation under money laundering regulations to verify the ID 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 (usually a Passport or Driving Licence) and proof of address (usually a Bank Statement less than 3 months old).
Evidence of the origin of monies is also necessary in compliance with the money laundering regulations as conveyancers are obliged to check that the funds you are utilising to purchase a property (be it the exchange deposit or the total purchase monies if you are a cash purchaser) has originated from an acceptable source (such as employment savings) and is not the fruits of illegitimate activity.
I am in the process of refinancing my home in Broadway, does my lawyer need to be on the Coventry BS Solicitor panel?
In theory, you could use a solicitor that is not on the Coventry BS conveyancing panel, but Coventry BS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Despite weeks of looking the Title Certificate and documents to our home can not be found. The lawyers who did the conveyancing in Broadway 4 years ago no longer exist. Will I be able to sell the house?
You no longer need to hold title original deeds to establish that you own the land or premises, given that the Land Registry hold details of all registered land or property electronically.
I decided to have a survey completed on a property in Broadway ahead of retaining solicitors. I have been informed that there is a flying freehold element to the house. Our surveyor advised that some lenders may not issue a loan on this type of property.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. Should you wish to call us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Broadway. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Broadway to see if the conveyancing will be more expensive.
I'm remortgaging my current property to a BTL loan with Alliance & Leicester and intend to use the remaining equity as a deposit on further property. The neighborhood we are looking at is Broadway. Will your conveyancers be able to act for the two banks and link together the two deals?
Do use our comparison tool on this page to ensure that the conveyancers are approved by both mortgage companies. Assuming that they are the conveyancer should be able to tie up the two deals but you should talk with you lawyer and make apparent your desired outcome and needs.
Can you offer any advice when it comes to choosing a Broadway conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Broadway conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Broadway conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be of use:
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If they are not ALEP accredited then why not?
Broadway Leasehold Conveyancing - Examples of Queries Prior to Purchasing
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The prefered form of lease arrangement is where the freehold reversion is owned by the leaseholders. In this scenario the lessees have control and although a managing agent is often retained where the building is larger than a house conversion, the managing agent employed by the leaseholders. You should be aware that where the lease has fewer than eighty years it will have adverse implications on the value of the property. Check with your lender that they are happy with the length of the lease. A short lease means that you will almost definitely need a lease extension at some point and it is worth discovering how much this will be. Remember, in most cases you will need to own the property for 24 months in order to be legally able to extend the lease. This information is useful as a) areas may result in problems in the block as the communal areas may begin to deteriorate if repairs are not paid for b) if the leaseholders have a dispute with the running of the building you will need to have complete disclosure