In what way does my ID and proof of funds have anything to do with my conveyancing in Kimbolton? Is this really warranted?
It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Kimbolton. However these days you can not complete any conveyancing deal if you have not supplying proof of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a council tax bill. Please note that if you are supplying your driving licence as evidence of identification it needs to be both the paper element as well as the photo card part, one is not satisfactory without the other.
Proof of the origin of funds is necessary in accordance with the Money Laundering Regulations. Don’t be offended when you are asked to produce this as your conveyancer will need to have this information on file. Your Kimbolton conveyancing lawyer will need to see evidence of proof of funds before they are able to accept any money from you into their client account and they may also ask further questions concerning the origin of funds.
What is the difference between a licensed conveyancer and conveyancing solicitor in Kimbolton
There are many recorded licenced Conveyancers in Kimbolton and Solicitor firms in Kimbolton who can help with your conveyancing We would stress that the two are supervised by regulatory bodies with both specialising in the legal work in the home buying process. The two can handle associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Is it the case that all Kimbolton solicitors on the UBS conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the UBS approved list of solicitors they would need to be overseen by the SRA. The majority of mortgage companies do allow licenced conveyancers on their panel in which case such organisation would be governed by the CLC.
I am due to exchange contracts on my house. I had a double glazing fitted in January 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Bank of Ireland are being problematic. The Kimbolton solicitor who is on the Bank of Ireland conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Bank of Ireland are insisting on a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
The estate agent has sent us the confirmation of our purchase of a new build flat in Kimbolton. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Kimbolton
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
What tools are available to identify a Kimbolton law firm on the The Mortgage Works conveyancing panel? I have a car and am happy to travel upto 25miles to meet the lawyer.
Feel free to make use of the tool on this website. Please pick a mortgage company and your location and you will see a number of Kimbolton conveyancing lawyers locally. We have detailed some Kimbolton conveyancing firms at the bottom of this page and you can telephone them to see if they are on the The Mortgage Works panel
I've recently bought a leasehold flat in Kimbolton. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Kimbolton - A selection of Questions you should ask before buying
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The prefered form of lease arrangement is a share of the freehold. In this arrangement the tenants benefit from being in charge if their destiny and although a managing agent is often employed where it is larger than a house conversion, the managing agent retained by the leaseholders. What prohibitions exist in the Kimbolton Lease? Is anyone aware of any major works in the near future that could increase the maintenance costs?
We are midway through buying a house in Kimbolton. Conveyancing solicitor has phoned to say the property is "Leasehold". Should this make a difference on the salability of the house?
Kimbolton conveyancing does not usually involve leasehold houses. The key consideration here is the length of lease and the ground rent. If it's 999 years with a peppercorn rent, it's virtually freehold, so it shouldn't impact the marketability significantly.
At the other end of the spectrum, if it's, say, Sixty years it is bound to have a significant impact on the value, and most likely wouldn't be acceptable to the mortgage company. The remaining lease term and ground rent will be specified in the lease which should be made available to your solicitor.