In what way does my ID and proof of funds have anything to do with my conveyancing in Stamfordham? Is this really necessary?
In order to comply with Money Laundering Regulations any Stamfordham conveyancing firm will require proof of identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account evidencing your correct address.
In accordance with Money Laundering Regulations, conveyancing solicitors are obliged by law to ascertain not only the ID of conveyancing clients but also the origin of fund that they receive in respect of any matter. An unwillingness to disclose this may result in your lawyer terminating 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 notify the relevant authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
I'm the only recipient of my late grandmother’s will and I have everything in my name now, including the my former home in Stamfordham. The Stamfordham property was put into my name in December. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', meaning my property ownership could be regarded the same way as if I'd bought the house in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How practical a view mortgage companies take of it, depend on the mortgage company as this requirement is primarily there to identify subsales or the flipping of property.
I am buying a property in Stamfordham. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender UBS be concerned?
As your lender is UBS your lawyer must follow the conveyancing instructions contained in Part two of UK Finance Lenders’ Handbook for UBS. The Council of Mortgage Lenders’ Handbook stipulates minimum specifications for solar panel roof-space leases, and conveyancers are required to report to UBS where a lease fails to meet these requirements. The specifications relate to the installation of panels on properties nationwide and is not restricted to Stamfordham.
Our offer on a detached house in Stamfordham has been agreed to, the owners do nevertheless have a tied purchase. The vendors have placed an offer on somewhere, but it’s not been accepted yet, and are looking at other flats booked. I have selected a nearby conveyancing solicitor in Stamfordham. What do I do now? At what point should I apply for the mortgage with Coventry BS?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of one thousand pounds, then valuation, Stamfordham conveyancing search fees, etc). First, you should check that your conveyancer is on the Coventry BS conveyancing panel. Regarding the next steps this very much depends on the specifics of your case, motivation for this property and on the state of the market. In a rising market some purchasers would apply for the mortgage with Coventry BS and arrange for the valuation and only if it was satisfactory would they pay their property lawyer to move forward with searches.
We are downsizing from our house in Stamfordham and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any high street Stamfordham conveyancer would know that there is no such problem. For the life of me I don't know why the buyers instructed a nationwide conveyancing firm rather than a conveyancing solicitor in Stamfordham. We have lived in Stamfordham for three years we know of no issue. Should we get in touch with our local Authority to obtain clarification need.
It would appear that you have a conveyancing firm currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I'm buying a new build house in Stamfordham benefiting from help to buy. The sellers refused to move on the amount so I negotiated 6k of additionals instead. The estate agent told me not to tell my conveyancer about the extras as it may adversely affect my loan with Bank of Scotland. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the encouragement of my in-laws I had a survey completed on a property in Stamfordham in advance of retaining lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some banks will refuse to issue a mortgage on such a house.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Stamfordham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Stamfordham to see if the conveyancing will be more expensive.
What advice can you give us when it comes to finding a Stamfordham conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Stamfordham conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Stamfordham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be useful:
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How experienced is the practice with lease extension legislation? What volume of lease extensions have they carried out in Stamfordham in the last 12 months?
Stamfordham Leasehold Conveyancing - Examples of Queries before buying
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The best form of lease structure is if the freehold reversion is in the ownership of the leaseholders. In this scenario the lessees enjoy control and even though a managing agent is usually retained if it is bigger than a house conversion, the managing agent acts for the leaseholders themselves. The answer will be important as a) areas can result in problems in the block as the communal areas may start to deteriorate if services are not paid for b) if the tenants have an issue with the running of the building you will need to have all the details What is the name of the managing agents?