I can't travel far from Christchurch. Is there a reason why all Christchurch lawyers are not on all bank panels?
Even though it may seem unfair for banks to restrict who can represent them, from the public’s or conveyancer’s standpoint, the other side of the coin is that mortgage companies are increasingly anxious and feel it vital to shield themselves from mortgage fraud. As a consequence of this concern banks have restricted their panel of approved conveyancing lawyers to a size that they are happy to control.
In what way does my ID and proof of funds have anything to do with my conveyancing in Christchurch? Is this really necessary?
In order to comply with Money Laundering Regulations any Christchurch conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility bill evidencing where you live.
In accordance with Money Laundering Regulations, conveyancers are required to investigate not simply the identity of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this will result in your lawyer cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to inform the appropriate authorities should they consider that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
I am purchasing a property and the lawyer has mentioned Chancel Repair for which the house could be obligated to pay as it falls into the area of such a church. He has recommended insurance. Is this really warranted for conveyancing in Christchurch
Unless a previous purchase of the property completed after 12 October 2013 you can assume that conveyancing practitioners handling conveyancing in Christchurch to continue to propose a a chancel search and or chancel repair liability insurance.
I am buying a new build apartment in Christchurch. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Christchurch
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Last September I purchased a leasehold house in Christchurch. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I bought a 2 bed flat in Christchurch, conveyancing having been completed August 2008. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Christchurch with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease ends on 21st October 2086
With only 60 years remaining on your lease we estimate the premium for your lease extension to range between £20,000 and £23,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.
I am purchasing a house with all finances in place. My conveyancer has been handed with 2 distinct evidence of photo identification, bank statement, numerous utility bills. Now he needs a copy from a probate lawyer acknowledging that the money is in place and that it has come from inheritance and not dealing E's in Ibiza.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Christchurch conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.