My husband and I are nearing an exchange on a property in Long Ashton and my parents have transferred the 10% deposit to my lawyer. I am now told that as the deposit has been received from someone other than me my conveyancer needs to disclose this to my bank. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
Your conveyancing practitioner is obliged to clarify with the bank to make sure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your bank if you agree, failing which, your lawyer must cease to continue acting.
What does my ID and proof of funds have anything to do with my conveyancing in Long Ashton? What am I being asked for?
You are right in these requests have nothing to do with conveyancing in Long Ashton. Nowadays you can not proceed with any conveyancing deal in the absence submitting proof of your identity. This usually takes the form of a either your passport or driving licence and a bank statement. Please note that if you are providing your driving licence as proof of ID it needs to be both the paper part as well as the photo card part, one is not sufficient without the other.
Proof of your source of money is required in accordance with the Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancer will need to retain this information on record. Your Long Ashton conveyancing practitioner will require evidence of proof of funds prior to accepting any funds from you into their client account and they may also ask further queries regarding the origin of monies.
My property lawyer in Long Ashton is not listed on the Barclays Solicitor Panel. Is it possible for me to retain my family solicitor notwithstanding that they are excluded from the Barclays panel?
Your options are as follows:
- Complete the purchase with your preferred Long Ashton lawyers but Barclays will need to retain a solicitor on their list of acceptable firms. This will result in additional overall conveyancing charges as well as cause delays.
- Get a new solicitor to act in the purchase, obviously checking they are Persuade your solicitor to use their best endeavours to join the Barclays conveyancing panel
I moved into my home on 2 September and the transaction details is yet to be registered. Should I be concerned? My conveyancing solicitor in Long Ashton said it should be recorded in a couple of weeks. Are transfers in Long Ashton uniquely lengthy to register?
As far as conveyancing in Long Ashton is concerned, registration is no quicker or slower than anywhere else in the country. Rather than based on location, timescales can vary depending on the party submitting the application, whether there are errors and if the Land registry must send notices to any 3rd persons or bodies. At present approximately 80% of such applications are fully addressed in less than three weeks but some can be subject to longer delays. Historically registration is effected after the buyer has moved in to the property thus 'speed' is not always primary concern but where it is urgent that the the registration takes place urgently then you or your solicitor must communicate with the Registry to express the reasoning for the application to be prioritised.
I am buying a new build flat in Long Ashton. Conveyancing is necessary evil 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 are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Long Ashton
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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. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
How does the Landlord & Tenant Act 1954 impact my commercial premises in Long Ashton and how can you help?
The 1954 Act affords a safeguard to business tenants, giving them the right to apply to court for a continuation of occupancy at the end of an expired lease. There are limited grounds that a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and help with commercial conveyancing in Long Ashton