In what way does my ID and proof of funds have anything to do with my conveyancing in Leamington Spa? What am I being asked for?
Leamington Spa conveyancing solicitors and indeed property lawyers throughout the UK have a duty under money laundering regulations to verify 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 identification; proof of ID (usually a Passport or Driving Licence) and proof of address (typically a Bank Statement less than 3 months old).
Confirmation of source of funds is also required under the money laundering laws as lawyers are obliged to check that the funds you are using to buy a property (be it the exchange deposit or the full purchase price where you are a cash purchaser) has originated from legitimate source (such as an inheritance) as opposed to the product of illegitimate behaviour.
My mortgage company has recommended a law firm on their panel based in Leamington Spa but I would rather instruct a conveyancing lawyer in Leamington Spa round the corner to me. Can you assist?
It is by no means the case that all Leamington Spa conveyancing practitioners are approved and listed on all banks conveyancing panel. Use our search tool to identify a Leamington Spa conveyancing conveyancer on the on the lender panel.
My wife and I are purchasing a flat in Leamington Spa. It might be a silly question but how we can trust a solicitor? At some point we will need to send our life savings into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is it the case that all Leamington Spa CQS (Conveyancing Quality Scheme) solicitors are on the Clydesdale conveyancing panel?
It is true that some lenders now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their panels.
The formalities of my purchase has taken place for my property in Leamington Spa. Conveyancing was of an acceptable standard but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
4 months have elapsed following my purchase conveyancing in Leamington Spa concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build flat in Leamington Spa. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Leamington Spa
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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. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Over the last few months I have been searching for a flat up to £305k and identified one close by in Leamington Spa I like with amenity areas and railway links in the vicinity, the downside is that it's only got 61 remaining years left on the lease. There is not much else in Leamington Spa for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a mortgage the shortness of the lease will likely be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.