What does my ID and proof of funds have anything to do with my conveyancing in Hove? Is this really warranted?
To satisfy the Money Laundering Regulations any Hove conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility account showing where you reside.
Under Money Laundering Regulations, conveyancers are duty bound to validate not just the identity of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this may result in your conveyancer cancelling 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 notify the appropriate authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
I'm the only recipient of my late mum's will with all property in now in my sole name, including the house in Hove. The Hove property was put into my name in April. I plan to dispose of the house. I do know about the Mortgage Lenders six month 'rule', meaning my property ownership will be treated the same way as if I'd bought the house in April. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. How sensible a view lenders take of it, depend on the mortgage company as this provision principally exists to pick up on the purchase and immediately sell or the wholesaling and assigning of property.
I had a mortgage agreed in principle with Lloyds. Hove conveyancing practitioners are instructed. How long does it take for Lloyds to issue the offer to the conveyancing practitioner?
Some lenders take longer than others. Have Lloyds completed the valuation? Have you informed Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
My wife and I are in the throws of viewing apartments in Hove and I am about to put in an offer. Should I already have a conveyancer in place at this stage? I intend to finance via a home loan with Barclays.
You should start requesting conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. As you are taking out a mortgage with Barclays, make sure you remember to check that your lawyer is on the Barclays conveyancing panel.
The deeds to my home are lost. The lawyers who handled the conveyancing in Hove 5 years ago are no longer around. What are my next steps?
Assuming the title is registered the details of your ownership will be held by the Land Registry under a Title Number. It is possible to conduct a search at the Land Registry, find your house and get current copies of the property title for less than a fiver. Where the property is Leasehold then the Land Registry will in most cases hold a certified copy of the Registered Lease and again, a copy can be ordered for a small fee.
How does conveyancing in Hove differ for newly converted properties?
Most buyers of new build premises in Hove approach us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is completed. This is because house builders in Hove typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Hove or who has acted in the same development.
I decided to have a survey completed on a house in Hove before appointing lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some banks tend not grant a loan on such a premises.
It depends who your proposed lender is. HSBC has different requirements for example to Nationwide. Should you wish to telephone us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hove. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hove to see if the conveyancing will be more expensive.
Am I better off to instruct a Hove conveyancing lawyer in close proximity to the house I am purchasing? An old friend can conduct the legal work but they are based approximately 350kilometers away.
The benefit of a high street Hove conveyancing firm is that you can attend the office to sign documents, present your identification documents and apply pressure on them where appropriate. Having local Hove know how is a benefit. However nothing is more important than finding someone that will do a good and efficient job. If you know people who used your friend and the majority were impressed that must outweigh using an unfamiliar Hove conveyancing solicitor just because they are Hove based.