What does my ID and proof of funds have anything to do with my conveyancing in Earls Court? What am I being asked for?
In order to comply with Money Laundering Regulations any Earls Court conveyancing firm will require proof of identity in all conveyancing matters. This is usually dealt with by provision of a passport and an original bank statement or utility bill evidencing where you live.
Under Money Laundering Regulations, property lawyers are duty bound to validate not only the identity of conveyancing clients but also the source of monies that they receive in respect of any matter. Refusal to disclose this may result in your conveyancer terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to notify the relevant authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
What is your number one tip for choosing a conveyancing solicitor in Earls Court
It would be unwise to be seduced by the cheapest Earls Court conveyancing quote. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Earls Court?
There are many registered licenced Conveyancers in Earls Court and Solicitor partnerships in Earls Court offering conveyancing It is important to make clear that both are regulated professionals specialising in the legal work in the home buying process. They may both also deal with other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I have a mortgage with UBS for my property in Earls Court. Conveyancing has been completed some time ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform UBS?
You must advise UBS in advance of renting your property as this is likely to be a breach of UBS’s mortgage conditions. It may be that UBS will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. It should not be necessary to do this via a UBS conveyancing panel lawyer.
Will our solicitor be making enquiries regarding flooding during the conveyancing in Earls Court.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Earls Court. There are those who buy a house in Earls Court, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Conveyancers are not qualified to impart advice on flood risk, but there are a numerous checks that may be carried out by the buyer or by their conveyancers which will figure out the risks in Earls Court. The standard information sent to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the owner to determine if the property has suffered from flooding. In the event that flooding has previously occurred which is not revealed by the seller, then a buyer may commence a compensation claim as a result of such an inaccurate answer. A purchaser’s conveyancers should also commission an enviro report. This will indicate if there is a recorded flood risk. If so, additional investigations will need to be conducted.
I have justfound out that Action Conveyancing have closed. They carried out my conveyancing in Earls Court for a purchase of a leasehold apartment 12 months ago. How can I check that my home is in my name in the name of the previous owner?
The easiest method to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Earls Court conveyancing specialists.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Earls Court is the location of the property. What do you suggest?
Flying freeholds in Earls Court are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Earls Court you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Earls Court may ascertain 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.
I am 3 weeks into a leasehold purchase having been directed to a firm by the estate agent to execute conveyancing in Earls Court. I am am very disappointed with the level of service. Could you help me find new lawyers?
A conveyancer would have to be really poor in order to consider diss instructing them. Has your mortgage offer been sent? In the event that it has you will need to advise them of the new contact details and ensure the mortgage documents are re-sent. Your new solicitor ideally needs to be on the banks panel to avoid supplemental fees and complications. That should be your starting point. Our search tool can assist you in finding a bank approved lawyer for your home move in Earls Court