What does my ID and proof of funds have anything to do with my conveyancing in Knutsford? Is this really warranted?
Knutsford conveyancing solicitors and indeed property practitioners throughout the UK have a duty under Anti-terror and anti-money-laundering rules to verify the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and evidence of address (typically a Bank Statement less than 3 months old).
Confirmation of source of monies is also necessary under the money laundering statutes as conveyancers are mandated to ensure that the monies you are utilising to purchase a property (be it the exchange deposit or the total purchase amount where you are buying without a mortgage) has originated from a reputable source (such as employment savings) as opposed to the proceeds of illegitimate activity.
Will our lawyer be asking questions regarding flooding during the conveyancing in Knutsford.
Flooding is a growing risk for conveyancers specialising in conveyancing in Knutsford. There are those who acquire a property in Knutsford, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Conveyancers are not best placed to give advice on flood risk, but there are a numerous searches that can be carried out by the purchaser or on a buyer’s behalf which can figure out the risks in Knutsford. The conventional set of information supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a usual question of the seller to find out whether the property has suffered from flooding. In the event that flooding has previously occurred which is not disclosed by the owner, then a purchaser may bring a compensation claim resulting from an misleading response. A buyer’s solicitors will also conduct an enviro report. This should disclose whether there is any known flood risk. If so, more detailed investigations will need to be initiated.
I got the keys to my home on 13 February and my personal details are still not on the land registry website. Any reason for this? My conveyancing solicitor in Knutsford advises it should be dealt with in a couple of weeks. Are titles in Knutsford uniquely lengthy to register?
As far as conveyancing in Knutsford is concerned, registration is no quicker or slower than anywhere else in the country. As opposed to being determined by geographic area, timeframes can vary according to the party submitting the application, whether there are errors and if the Land registry communicate with any third parties. Currently roughly 80% of submission are fully dealt with within 12 days but occasionally there can be longer hold-ups. Historically registration is effected after the new owner has moved in to the premises thus an expedited registration is not always an essential issue yet if there is a degree of urgency associated with the registration then you or your lawyers must contact the land registry and explain the circumstances.
How does conveyancing in Knutsford differ for newly converted properties?
Most buyers of new build residence in Knutsford contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is finished. This is because builders in Knutsford 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 conveyancers 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 Knutsford or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what should have been a straight forward, chain free conveyancing. Knutsford is the location of the property. Can you offer any advice?
Flying freeholds in Knutsford are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Knutsford you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Knutsford may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I am on look out for some leasehold conveyancing in Knutsford. Before I get started I want to be sure as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and most are in Knutsford - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Leasehold Conveyancing in Knutsford - A selection of Questions you should consider before Purchasing
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It would be sensible to investigate if there is anything that is prohibited in the lease. For example it is very common in Knutsford leases that pets are not permitted in in a block in Knutsford. If you love the propertyin Knutsford however your cat can’t move with you then you will be presented with a difficult compromise. How much is the ground rent and service charge? Who is in charge of the block?