What does my ID and proof of funds have anything to do with my conveyancing in Dulverton? Is this really warranted?
Dulverton conveyancing solicitors and indeed property lawyers throughout the UK have an obligation under money laundering regulations to verify the identity 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 ID; proof of ID (typically a Passport or Driving Licence) and evidence of address (usually a Utility Bill less than 3 months old).
Evidence of source of monies is also required in accordance with the money laundering statutes as conveyancers are obliged to check that the funds you are utilising to buy a property (whether it be the deposit for exchange or the full purchase amount where you are a cash purchaser) has come from legitimate source (such as employment savings) and is not the fruits of illegitimate activity.
Forgive me if this question is silly but I am wet behind the ears as FTB of a ground floor flat in Dulverton. Do I receive the keys to the property on the completion date from my solicitor? If this is the case, I will instruct a local conveyancing solicitor in Dulverton?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the seller's lawyers, and once they have received this, you should be invited to pick up the keys from the property Agents and move into your new home. Usually this occurs between 1 and 3pm.
I happen to be the sole recipient of my late mum's will and I have everything in my name now, including the house in Dulverton. Conveyancing formalities meant that the Land Registry date was in November. I now wish to sell up. I understand that there is a CML six month 'rule', which means that my proprietorship may be considered the same way as though I had purchased the house in November. Is the property unsalable for six months?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. How practical a view mortgage companies take of it, depend on the mortgage company as this clause is primarily there to identify the purchase and immediately sell or the wholesaling and assigning of properties.
Are all Dulverton Conveyancing Quality Solicitors on the Principality conveyancing panel?
A selection of banks and building societies now use CQS as the starting point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Dulverton?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Dulverton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what should have been a quick, chain free conveyancing. Dulverton is the location of the property. Is there any guidance you can impart?
Flying freeholds in Dulverton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Dulverton you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Dulverton may determine 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 premises.
As co-executor for the will of my father I am disposing of a property in Neath but live in Dulverton. My lawyer (based 300 miles from mehas requested that I execute a stat dec ahead of completion. Can you recommend a conveyancing solicitor in Dulverton to witness this legal document for me?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are Dulverton based
We are about to exchange on the purchase a house in Dulverton but as a result of wreckage from the recent storms I have agreed recompense from the owner of five thousand pounds by way of a adjustment in the price. This was going to be addressed as part of the conveyancing process yet the mortgage company will not agree to this. Should they have been notified?
Any lawyer being on the mortgage company conveyancing panel is obliged to advise the mortgage company of any variations to the sale figure. If you were to refuse your property lawyer to report the price change to your mortgage company then they would have no choice but to refrain from acting for you and the mortgage company.