What does my ID and proof of funds have anything to do with my conveyancing in Millbank? What am I being asked for?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Millbank. Nowadays you will not be able to complete any conveyancing deal if you have not supplying proof of your identity. This usually takes the form of a either your passport or driving licence as well as a utility bill. Remember if you are supplying your driving licence as proof of ID it needs to be both the paper element as well as the photo card part, one is not satisfactory without the other.
Verification of your origin of monies is necessary under Money Laundering Regulations. You should not be offended when you are asked to produce this as your conveyancing solicitor will need to retain this information on record. Your Millbank conveyancing lawyer will need to see evidence of proof of funds before they are able to accept any money from you into their client account and they should also ask further queries concerning the origin of monies.
My grandfather passed away 10 months ago and as sole heir and executor I was left the property in Millbank. The house had a relatively small loan remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Bank of Ireland, pay off the mortgage. Is this allowed?
Given you plan to refinance then Bank of Ireland will insist on your using a conveyancer on the Bank of Ireland conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Bank of Ireland conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Bank of Ireland mortgage is registered as a charge at the Land Registry.
Have just purchased a repossessed house at auction in Millbank. Conveyancing is necessary. What is next?
Now that you have exchanged you now have to retain a conveyancing lawyer as a matter of urgency as you are faced with a tight a fixed date to complete the transaction. Every auction property will ordinarily have a corresponding legal set of papers. This will likely include the copy title deeds, local authority and drainage searches. In the case of leasehold premises the legal pack should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to a leasehold property. You must hand this to the conveyancer working for you as soon as possible. Do make sure that your finances are in order to complete on the on the contractual date .
We are getting the release of further funds on our mortgage from Skipton as we intend to conduct a loft conversion to our home in Millbank. Do we need to choose a local Millbank solicitor on the Skipton conveyancing panel to handle the paperwork?
Skipton would not normally appoint a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton panel.
I'm in the throws of looking at houses in Millbank and I am about to put in an offer. Should I already have a solicitor in place at this stage? I will be getting a mortgage with TSB.
You should start obtaining conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are getting a mortgage with TSB, ask your prospective lawyers if they are on the TSB conveyancing panel otherwise they can't do the mortgage legal work.
I require expedited conveyancing in Millbank as I have an ultimatum to exchange contracts in less than one month. Fortunately I do not need a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
As you are not getting a home loan you are at free not to do searches although no solicitor would suggest that you don't. With plenty of history conveyancing in Millbank the following are instances of issues that can show up and therefore impact market value: Refused Planning Applications, Overdue Fees, Overdue Grants, Road Schemes,...
Is it best to choose a Millbank conveyancing lawyer in close proximity to the house I am hoping to buy? I have an old university friend who can execute the legal formalities but her office is 200kilometers drive away.
The benefit of a high street Millbank conveyancing practice is that you can visit the firm to sign documents, deliver your ID and apply pressure on them where appropriate. They will also have local knowledge which is a benefit. That being said it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were happy that must surpass using an unknown Millbank conveyancing solicitor just because they are round the corner.
Can you provide any top tips for leasehold conveyancing in Millbank from the point of view of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Millbank can be avoided where you appoint lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the buyers’ solicitors. If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you installed wooden flooring? Millbank leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence from the Landlord acquiescing to such works. If you dont have the consents in place you should not communicate with the landlord without checking with your conveyancer in the first instance. If you have the benefit of shareholding in the freehold, you should make sure that you have the original share certificate. Arranging a duplicate share certificate is often a lengthy process and frustrates many a Millbank conveyancing deal. Where a new share certificate is necessary, you should approach the company officers or managing agents (where relevant) for this as soon as possible. The majority of landlords or managing agents in Millbank levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Millbank.
I own a ground floor flat in Millbank. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
Absolutely. We are happy to put you in touch with a Millbank conveyancing firm who can help.
An example of a Lease Extension decision for a Millbank flat is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case related to 2 flats. The number of years remaining on the existing lease(s) was 56 years.