What does my ID and proof of funds have anything to do with my conveyancing in North Shields? What am I being asked for?
To satisfy the Money Laundering Regulations any North Shields conveyancing firm will require proof of identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility bill showing your correct address.
In accordance with Money Laundering Regulations, property lawyers are obliged by law to ascertain not simply the identity of conveyancing clients but also the origin of fund that they receive in respect of any matter. An unwillingness to disclose this may lead to your conveyancer cancelling 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 make a disclosure to the appropriate authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
I am the sole recipient of my late mum's estate with all property in now in my sole name, including the my former home in North Shields. Conveyancing formalities meant that the Land Registry date was in October. I want to move. I understand that there is a CML six month 'rule', which means that my property ownership will be considered the same way as if I'd bought the property in October. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be caught by that. Some lenders would take a sensible view as this clause is primarily there to pick up on subsales or the quick reselling of properties.
We had appointed conveyancers located in North Shields on the Co-operative solicitor panel. They have just billed me a separate fee for dealing with the Co-operative mortgage. Is this an additional conveyancing fee set by Co-operative?
Provided it is contained in their Terms and Conditions or Quote then yes your lawyer may levy a fee for this. This fee is not dictated by Co-operative but by your North Shields solicitor. Plenty of firms on the Co-operative panel will quote an ‘acting for lender’ fee but some firms incorporate it on their overall fee.
My wife and I are in the throws of viewing flats in North Shields and I am about to put in an offer. Is it best to have my property lawyer on ‘stand by’? I am planning to take a home loan with Clydesdale.
It would be wise to start your search sooner rather than later. 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 details on to the EA. Given that you are getting a mortgage with Clydesdale, make sure you remember to check that your lawyer is on the Clydesdale conveyancing panel.
Me and my brother have a terraced Georgian house in North Shields. Conveyancing practitioner acted for me and Coventry Building Society. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold with the exact same address. I'd like to know for sure, how can I find out??
You should assess 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in North Shields and other locations in 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 buyers. You can also question the situation with the conveyancing lawyer who conducted the purchase.
Taking into account that I will soon part with over three hundred thousand on a two bedroom apartment in North Shields I would like to have a conversation with the lawyer concerning thehome move ahead of giving the go ahead to the firm. Is this something that you can arrange?
This is something that we encourage - it is our preference to talk to you we do not take any clients on without you speaking to the solicitor who will be carrying out your conveyancing in North Shields.There is no ‘factory style conveyancing’ - each client is unique person, not a matter number. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in North Shields should be the figure that you are charged.
I am looking for a conveyancing practitioner in North Shields for my house move. Is there any facility to review a firm’s record with the profession’s regulator?
One can review published Solicitor Regulator Association (SRA) decisions resulting from inquisitions started on or after 1 January 2008. Go to Check a solicitor's record. For details about the period before 1 January 2008, or to check a firm's history, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The SRA may monitor telephone calls for training requirements.
I’m about to sell my garden flat in North Shields. Conveyancing lawyers have not yet been instructed, however I have just had a half-yearly service charge invoice – Do I pay up?
The sensible thing to do is pay the invoice as you normally would because all rents and service charges will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I bought a 1st floor flat in North Shields, conveyancing having been completed 4 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in North Shields with an extended lease are worth £195,000. The ground rent is £45 levied per year. The lease finishes on 21st October 2088
With 63 years unexpired we estimate the price of your lease extension to span between £16,200 and £18,600 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.