What does my ID and proof of funds have anything to do with my conveyancing in St Fagans? Is this really warranted?
To satisfy the Money Laundering Regulations any St Fagans conveyancing firm will require evidence of your identity in all conveyancing transactions. This is usually dealt with by provision of a passport and an original bank statement or utility bill showing where you reside.
Under Money Laundering Regulations, conveyancing solicitors are obliged by law to investigate 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 lawyer terminating their retainer 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 monies received by them may contravene the Anti-terror and anti-money-laundering rules.
What happens if my solicitor is suspended from the TSB Conveyancing panel ahead of completing my conveyancing in St Fagans?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
My wife and I have a semi-detached Victorian property in St Fagans. Conveyancing lawyer acted for me and Britannia. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You need to 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 St Fagans and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with the conveyancing lawyer who conducted the purchase.
I opted to have a survey completed on a house in St Fagans before appointing lawyers. I have been informed that there is a flying freehold overhang to the house. My surveyor advised that some mortgage companies tend not issue a mortgage on this type of property.
It depends who your proposed lender is. Santander has different instructions from Nationwide. If you contact us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in St Fagans. Conveyancing will be smoother if you use a solicitor in St Fagans especially if they regularly deal with such properties in St Fagans.
I need to find a conveyancing solicitor for freehold conveyancing in St Fagans. I have stumble upon a web site which appears to be the perfect answer If it is possible to get all the legals completed via web that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Midway through the sale of a leasehold flat in St Fagans. Conveyancing is fine but we have been asked to pay a fortune by the managing agents. To date we have forked out £275 for a leasehold management information and then a further £134.40 for answers to questions raised by the purchaser's conveyancer.
Neither you or your solicitor will have any say over the level of the charges for this information however the average fee for the information for St Fagans leasehold premises is £380. For St Fagans conveyancing deals it is customary for the owner to cover the costs. The freeholder or their agents are not duty bound to answer such questions although many will be willing to do so - albeit often at high prices where the fees bear little relation to the work involved. Regretfully there is no legislation that requires set charges for administrative tasks. There is no prescriptive time limit by which they are duty bound to provide answers.