In what way does my ID and proof of funds have anything to do with my conveyancing in Machen? Why is this being asked of me?
Machen conveyancing solicitors and indeed property practitioners throughout the UK have a duty under money laundering regulations to verify the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified identification; proof of identity (typically 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 necessary in compliance with the money laundering laws as solicitors are required to ensure that the funds you are utilising to purchase a property (whether it be the deposit for exchange or the full purchase amount where you are buying mortgage free) has originated from legitimate source (such as employment savings) and is not the fruits of illegitimate activity.
We are buying a house and the solicitor has identified Chancel Repair to which the property could be liable as it falls into the area of such a church. He has recommended insurance. Is this strictly necessary for conveyancing in Machen
Unless a previous purchase of the premises completed after 12 October 2013 you can take it that lawyers carrying out conveyancing in Machen to remain encouraging a chancel search and or insurance against a claim.
My wife and I have a terraced Edwardian house in Machen. Conveyancing practitioner represented me and Bank of Ireland. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold with the exact same property. Is it worth asking Bank of Ireland to clarify?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Machen and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with the conveyancing solicitor who conducted the purchase.
About to purchase a new build flat in Machen. Conveyancing is a frightening process 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.
Here is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Machen
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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. There must be mutual enforceability of lessee’s covenants. Please confirm the Lease plans are architect prepared. Please supply a car parking plan.
Am I right to be suspicious that brokers that I am dealing with are recommending a nationwide conveyancing firm rather than a High Street Machen conveyancing firm?
As is the case with many professional services, often suggestions from relatives can be very helpful. But there are lots of players in a conveyancing matter; estate agents, mortgage brokers and lenders might all put forward solicitors to appoint. On occasion the lawyers might be known to one of the organisations as one of the best in their field, but occasionally there is an underlying financial incentive behind the endorsement. You have the right to choose your own conveyancer. Don't forget that the majority of banks have an approved list of conveyancers you have to use for the lender related work in your conveyancing.
Sixweeks into purchasing a residence in Machen. Conveyancing lawyer has called to say the title is "Leasehold". Will this likely make a difference on our Natwest valuation?
Machen conveyancing does not in most situations involve leasehold houses. The key factor here is the length of lease and the ground rent. If it's 999 years with a nominal rent, it's essentially freehold, so it’s unlikely to affect the marketability too much.
On the flip side, if it's, say, 50 years it is bound to have a material effect on the value, and probably wouldn't be mortgageable. The length of lease and ground rent will be specified in the lease provided to your conveyancer.