In what way does my ID and proof of funds have anything to do with my conveyancing in Islington? What am I being asked for?
Islington conveyancing solicitors and indeed property lawyers throughout the UK have an obligation under money laundering regulations to check the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and evidence of address (usually a Utility Bill less than 3 months old).
Proof of source of funds is also required under the money laundering statutes as lawyers are duty bound to ensure that the money you are utilising to buy a property (whether it be the deposit for exchange or the total purchase monies if you are a cash purchaser) has come from a reputable source (such as employment savings) as opposed to the proceeds of illegitimate behaviour.
I am the sole beneficiary of my late mum's will and I have everything in my name alone, including the my former home in Islington. Conveyancing formalities meant that the Land Registry date was in June. I now wish to sell up. I do know about the CML six month 'rule', which means that my proprietorship may be treated the same way as if I'd bought the house in June. Will no one buy the property for half a year?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. How practical a view mortgage companies take of it, depend on the lender as this requirement is principally there to capture the purchase and immediately sell or the quick reselling of properties.
Are all Islington Conveyancing Quality Solicitors on the Virgin Money conveyancing list of approved firms?
Some major banks and building societies now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
I have paid off my mortgage with Virgin Money. I assume I don't need a Islington solicitor on the Virgin Money panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
Should commercial conveyancing searches reveal planned roadworks that may impact a commercial property in Islington?
Many commercial conveyancing solicitors in Islington will perform a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Islington. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Islington.
For each commercial conveyancing transaction in Islington it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Islington commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Islington.
How does conveyancing in Islington differ for new build properties?
Most buyers of new build or newly converted property in Islington come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is completed. This is because builders in Islington tend to buy the real estate, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Islington or who has acted in the same development.
I am downsizing from my home. My past conveyancers has retired. I am in need of a recommendation of a conveyancing firm. I happen to live in Islington if that makes a difference.
Please use our search tool to help you choose a solicitor for your conveyancing in Islington. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
I am intending to sublet my leasehold apartment in Islington. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Notwithstanding that your previous Islington conveyancing lawyer is not around you can check your lease to see if you are permitted to let out the premises. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you need to seek consent via your landlord or some other party in advance of subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. Such consent is not allowed to be unreasonably turned down. If the lease prohibits you from letting out the property you will need to ask your landlord for their consent.
I own a a ground floor purpose built flat in Islington. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
if there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to arrive at the price.
An example of a Lease Extension decision for a Islington residence is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case related to 1 flat. The remaining number of years on the lease was 80.5 years.