Me and my partner are soon to exchange buying a property in Highams Park but as a result of damage from the recent storms I have managed to agree compensation from the owner of £2k by way of a adjustment in the price. This was going to be dealt with as part of a side agreement however Principality will not permit this. Why were they informed?
The solicitor that is on the Principality approved list is required to inform Principality of any variations to the sale price. If you prohibit your lawyer to report the price change to Principality then they would have to discontinue acting for you. In addition, Principality and you would have to appoint a new solicitor for your conveyancing in Highams Park.
In what way does my ID and proof of funds have anything to do with my conveyancing in Highams Park? Is this really necessary?
Highams Park conveyancing solicitors as well as nationwide property lawyers accross the UK have a duty under money laundering regulations to verify the identity of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill no more than three months).
Evidence of the origin of funds is also required under the money laundering regulations as lawyers are duty bound to ensure that the funds you are utilising to purchase a property (whether it be the deposit for exchange or the total purchase amount if you are a cash purchaser) has come from legitimate source (such as employment savings) and is not the product of illegitimate activity.
My husband and I are buying a purpose built flat in Highams Park with a loan from Yorkshire Building Society.We have a Highams Park conveyancing solicitor but Yorkshire Building Society says her practice is not on their approved list of member firms. we are left little option but to use a Yorkshire Building Society panel solicitor or retain our high street solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Yorkshire Building Society use our lawyer?
No, not really. The home loan offered to you is subject to its various provisions, a common one being that lawyers will be on the Yorkshire Building Society solicitor panel. Until recently, most lenders had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Yorkshire Building Society
Have completed on a a detached house in Highams Park , how long will it take for the Land Registry to record my proprietorship? My Highams Park conveyancing solicitor works at snail pace, so I want to check the land registry aspects are dealt with.
As far as conveyancing in Highams Park registration is no faster or slower than the rest of England and Wales. Rather than based on location, timeframes can vary according to the party submitting the application, whether there are errors and if the Land registry must send notices to any other parties. Currently approximately 80% of submission are fully dealt with within 12 days but occasionally there can be longer delays. Historically registration takes place once the purchaser is living at the property thus an expedited registration is not typically an essential issue but if there is a degree of urgency associated with the registration then you or your conveyancer could contact the land registry and explain the circumstances.
I opted to have a survey carried out on a house in Highams Park before retaining solicitors. I have been informed that there is a flying freehold element to the house. Our surveyor advised that some banks may refuse to grant a loan on this type of property.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Highams Park. Conveyancing may be slightly more expensive based on your lender's requirements.
What can I do to discover who is the owner of a house in Highams Park?
Assuming that the property is registered with HM Land Registry, and you have the details of the location of the premises, you should be able to view details from the the Land Registry of the registered owner for a for less than a fiver.