In what way does my ID and proof of funds have anything to do with my conveyancing in Cowbridge? Why is this being asked of me?
Cowbridge conveyancing solicitors as well as nationwide property practitioners accross the UK have an obligation under money laundering regulations to verify the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and evidence of address (usually a Bank Statement no older than three months).
Proof of the origin of funds is also required under the money laundering statutes as conveyancers have a duty to investigate that the monies you are utilising to acquire a property (be it the exchange deposit or the full purchase price where you are a cash purchaser) has come from legitimate source (such as an inheritance) as opposed to the fruits of criminal activity.
Can you clarify what the consequences are if my lawyer’s firm is suspended from the Nationwide Conveyancing panel ahead of completing my conveyancing in Cowbridge?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I am assisting my step-mother sell her property in Cowbridge. Does the conveyancing solicitor arrange the energy performance certificate or it is for the owner to see to?
After the demise of Home Packs, energy performance certificates was left as a compulsory element of selling a house. An energy performance certificate should be to hand before the property is marketed. This is not something that law firms normally organise. Where you are instructing a Cowbridge conveyancing lawyer they may help arrange energy assessments given their relationships with reputable local providers
This question may be naive but I am new to the process as FTB of a ground floor flat in Cowbridge. Do I pick up the keys to the house on the completion date from my solicitor? If this is the case, I will use a local conveyancing solicitor in Cowbridge?
On the day of completion you do not need to attend the conveyancers office in Cowbridge. Conveyancing lawyers for you will transfer the completion advance to the owner’s conveyancers, and shortly after the monies have arrived, you will be able to collect the keys from the Estate Agents and move into your new home. This tends to happen early afternoon.
Is it correct that all Cowbridge CQS (Conveyancing Quality Scheme) solicitors are on the Nottingham conveyancing list of approved solicitors?
A selection of lenders now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Cowbridge is the location of the property. Can you offer any guidance?
Flying freeholds in Cowbridge are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cowbridge you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cowbridge may decide 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.
Estate agents have just been given the go-ahead to market my garden apartment in Cowbridge. Conveyancing is yet to be initiated, however I have recently had a yearly maintenance charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Cowbridge Leasehold Conveyancing - A selection of Queries Prior to buying
-
Can you tell me if there are any major works in the planning that will likely add a premium to the maintenance costs? Best to be warned if a new roof is being put on or some other major work is due shortly that will be shared between the tenants and will materially increase the the service charges or result in a one off payment. The prefered form of lease structure is a share of the freehold. In this scenario the leaseholders enjoy control and notwithstanding that a managing agent is frequently retained if it is larger than a house conversion, the managing agent retained by the leaseholders.
What are the specific advantages to instructing a high street conveyancing practitioner in Cowbridge
Many buyers and sellers in Cowbridge opt for a local conveyancer so that they can attend the firm’s offices if they have questions, and to sign mortgage deeds rather taking the chance in depending on the post.
There is a slight advantage in using a property lawyer nearby to a property you are buying, due to the familiarity of the region and possible local issues - nevertheless this is debatable. The majority of conveyancers carry out their communications via the internet and could be any place in the world.