In what way does my ID and proof of funds have anything to do with my conveyancing in Lyme Regis? Is this really warranted?
Lyme Regis conveyancing solicitors as well as nationwide property practitioners throughout the UK have a duty under money laundering regulations to check the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to supply two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and proof of address (usually a Bank Statement less than 3 months old).
Evidence of source of funds is also required under the money laundering regulations as solicitors are duty bound to investigate that the money you are using to buy a property (be it the exchange deposit or the total purchase price where you are a cash purchaser) has come from a reputable source (such as employment savings) and is not the fruits of illegitimate behaviour.
We wanted to use a property lawyer in Lyme Regis for our house move. Our financial adviser informed us that our mortgage lenders Platform Home Loans Ltd won't deal with them. Surely this is unfair competition?
A lender can insist on an approved solicitor act for it. Borrowers are expected to bear the cost of this. Please make use of our tool to choose a solicitor to conduct conveyancing in Lyme Regis on the Platform Home Loans Ltd approved list of solicitors.
This question may be naive but I am new to the home buying as a 1st time purchaser of a garden flat in Lyme Regis. Do I receive the keys to the house on completion from my lawyer? If so, I will find a High Street conveyancing solicitor in Lyme Regis?
On the day of completion you will not be required to go to the conveyancers office in Lyme Regis. Your solicitors will electronically transfer the purchase money to the vendor’s lawyers, and shortly after the monies have arrived, you will be able to pick up the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
We are purchasing a terrace house in Lyme Regis. Our aim is to carry out an extension to the side at the house.Will the conveyancing process include investigations to ascertain if these alterations are prohibited?
Your conveyancer should check the registered title as conveyancing in Lyme Regis can on occasion identify restrictions in the title documents which prevent certain alterations or require the consent of another owner. Many extensions require local authority planning consent and approval under the building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be prudent to check these issues with a surveyor before you commit yourself to a purchase.
I have paid off my mortgage with TSB. I assume I don't need a Lyme Regis property lawyer on the TSB panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your TSB mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the TSB mortgage from the register. TSB, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
How does conveyancing in Lyme Regis differ for new build properties?
Most buyers of new build residence in Lyme Regis approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Lyme Regis usually purchase 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 conveyancing solicitors 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 Lyme Regis or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one round the corner in Lyme Regis I like with a park and transport links in the vicinity, the downside is that it only has 52 years on the lease. I can't really find anything else in Lyme Regis suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage that many years will be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
As co-executor for the will of my uncle I am selling a house in Swansea but reside in Lyme Regis. My lawyer (who is 235 kilometers awayhas requested that I sign a statutory declaration before completion. Could you suggest a conveyancing practitioner in Lyme Regis who can attest this legal document for me?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will do regardless of whether they are located in Lyme Regis