What does my ID and proof of funds have anything to do with my conveyancing in Corsham? Why is this being asked of me?
Corsham conveyancing solicitors as well as nationwide property lawyers throughout the UK have a duty under money laundering regulations to check the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients are required to disclose two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and proof of address (usually a Bank Statement no more than three months).
Evidence of source of funds is also required in accordance with the money laundering laws as conveyancers are mandated to investigate that the funds you are using to acquire a property (whether it be the deposit for exchange or the full purchase monies if you are a cash purchaser) has come from a reputable source (such as employment savings) as opposed to the fruits of criminal behaviour.
We are selling our apartment in Corsham. Does my property lawyer need to be required to be on the Yorkshire BS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Yorkshire BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
About to purchase a new build flat in Corsham. Conveyancing is necessary evil 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.
Here is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Corsham
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I am looking for a flat up to £235,500 and identified one close by in Corsham I like with amenity areas and transport links in the vicinity, however it only has 51 remaining years left on the lease. There is not much else in Corsham suitable, so just wondered if I would be making a grave error buying a short lease?
Should you require a home loan the remaining unexpired lease term may be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
I need to retain a conveyancing solicitor for purchase conveyancing in Corsham. I happened to discover a web site which appears to be the ideal solution If it is possible to get all formalities completed via web that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
How does one remove a deceased person's details from the title deeds for a house in Corsham?
Where a Corsham property is jointly owned and one of the proprietors dies, the name will not immediately be removed from the Land Registry title. It is not necessary to amend the title as when it comes to a sale you would just be asked to evidence why the joint proprietor is not included in the conveyance, such as the probate documents.
With a view to making the sale conveyancing simpler in the future you may arrange to have the deceased party erased from the title by applying to HM Land Registry with evidence of the death. There is no charge from the Registry for this service.