My partner and I are looking to buy a property in Enfield Town and are in fact using a Enfield Town conveyancing practice. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Britannia have this morning contacted us to advise us that they have now hit a problem as our Enfield Town solicitor is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Enfield Town lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
What does my ID and proof of funds have anything to do with my conveyancing in Enfield Town? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Enfield Town conveyancing firm will require proof of identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account showing your correct address.
In accordance with Money Laundering Regulations, conveyancing solicitors are duty bound to validate not only the ID of conveyancing clients but also the origin of monies that they receive in respect of any matter. An unwillingness to disclose this will result in your solicitor ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to inform the relevant authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.
My brother-in-law has suggested I instruct a conveyancing solicitor in Enfield Town. I I am struggling to find out if they are accepted on the Nottingham Building Society conveyancing panel. Can you advise?
The first thing to do is call the lawyer and ask them if they can act for the lender. Alternatively please call Nottingham Building Society who may be able to confirm.
This question may be naive but I am new to the home buying as FTB of a garden flat in Enfield Town. Do I receive the keys to the house on the completion date from my lawyer? If so, I will use a High Street conveyancing solicitor in Enfield Town?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the purchase money to the seller's lawyers, and once they have received this, you will be invited to receive the keys from the selling Agents and move into your new home. This tends to happen early afternoon.
We are buying a victorian detached house in Enfield Town. The intention is to an extension at the rear at the house.Will legal conveyancing on the property include investigations to ascertain if these works were previously refused?
Your solicitor will review the deeds as conveyancing in Enfield Town can occasionally identify restrictions in the title documents which prevent certain alterations or necessitated the consent of a 3rd party. Some extensions call for local authority planning consent and approval in accordance building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be sensible to check these issues with a surveyor ahead of any purchase.
Is it the case that all Enfield Town solicitors on the Lloyds conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Lloyds approved list of solicitors they would need to be governed by the SRA. Some mortgage companies do list licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers.
Me and my brother own a 4 bedroom Georgian house in Enfield Town. Conveyancing solicitor acted for me and Chelsea Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold under the exact same property. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Enfield Town and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with the conveyancing lawyer who completed the work.
Looking forward to sign contracts shortly on a basement flat in Enfield Town. Conveyancing lawyers inform me that they report fully within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Enfield Town should include some of the following:
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Whether your lease has a provision for a reserve fund? Information concerning the obligations in the lease to pay service charges - in relation to the building, and the wider rights a leaseholder enjoys Rent payments - how much and what the invoice dates are, and also know whether this is subject to change You should know whether the lease allows you to add or improve anything in the flat- you must be made aware as to whether it relates to all alterations or just structural alteration, and whether consent is required Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
I inherited a a ground floor purpose built flat in Enfield Town. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum due for a lease extension?
in cases where there is a missing freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the price payable.
An example of a Lease Extension case for a Enfield Town property is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case affected 1 flat. The unexpired residue of the current lease was 81.79 years.