What does my ID and proof of funds have anything to do with my conveyancing in Liverpool? Is this really warranted?
To satisfy the Money Laundering Regulations any Liverpool conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility bill showing where you reside.
In accordance with Money Laundering Regulations, conveyancing solicitors are required to check not just the ID of conveyancing clients but also the source of monies that they receive in respect of any matter. An unwillingness to disclose this will result in your conveyancer ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to inform the relevant authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
My flat in Liverpool is up for sale and I have accepted an offer. Will my property lawyer have to be required to be on the Nationwide conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
What does a local search tell me regarding the house we're purchasing in Liverpool?
Liverpool conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations for example Xpress Legal The local search is essential in every Liverpool conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your new home. The search will provide data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
Are there restrictive covenants that are commonly picked up during conveyancing in Liverpool?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Liverpool. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Last May I purchased a leasehold house in Liverpool. Do I have any liability for service charges for periods before my ownership?
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. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
Liverpool Leasehold Conveyancing - Sample of Questions you should ask Prior to buying
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Most Liverpool leasehold properties will be liable to pay a service charge for maintenance of the block levied by the landlord. Where you buy the apartment you will have to meet this liability, usually periodically accross the year. This could differ from several hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. There will also be a ground rent to be met annual, ordinarily this is not a large sum, say about £50-£100 but you need to check as on occasion it could be many hundreds of pounds. Best to be warned whether a new roof is being installed or some other major work is due in the foreseeable future that will be shared by the leasehold owners and will dramatically impact the level of the maintenance costs or require a one off invoice.
When it comes to my conveyancing in Liverpool should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Liverpool conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancing practitioner's time in submitting the funds this way.