In what way does my ID and proof of funds have anything to do with my conveyancing in Tamworth? What am I being asked for?
To satisfy the Money Laundering Regulations any Tamworth conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility bill showing where you reside.
Under Money Laundering Regulations, property lawyers are obliged by law to check not just the ID of conveyancing clients but also the source of the money that they receive in respect of any matter. An unwillingness to disclose this may result in your solicitor ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to make a disclosure to the relevant authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
I am considering applying for a Leeds Building Society mortgage for purchase of a new build (under development) in Tamworth with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Leeds Building Society ?
In theory, you could use a solicitor that is not on the Leeds Building Society conveyancing panel, but Leeds Building Society would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I am selling our house in Tamworth and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. Any high street Tamworth conveyancer would know that there is no such problem. It does beg the question why the purchasers instructed a web based conveyancing firm rather than a conveyancing solicitor in Tamworth. Having lived in Tamworth for 4 years we know of no issue. Is it a good idea to get in touch with our local Authority to get clarification need.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You should 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 sickness)
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a simple, chain free conveyancing. Tamworth is the location of the property. What do you suggest?
Flying freeholds in Tamworth are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Tamworth you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tamworth may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Is it possible to transfer to a new solicitor as I have to find a firm on the Halifax conveyancing panel. I was using a local conveyancing solicitor in Tamworth round the corner but the firm is not accepted by Halifax
It would be our pleasure to assist you find a conveyancing solicitor in Tamworth on the Halifax panel. Please note that the conveyancers that we on the directory do not pay us commission if you instruct them and are registered with the Solicitors Regulation Authority who oversee all conveyancing solicitors in Tamworth. Using the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Tamworth.
I am hoping to exchange soon on a leasehold property in Tamworth. Conveyancing lawyers have said that they will have a report out to me next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Tamworth should include some of the following:
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Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? How long the lease is. You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years Does the lease prohibit wood flooring? You should be sent a copy of the lease The total extent of the premises. This may be the property itself but might incorporate a attic or storage are if applicable.
I am the registered owner of a ground floor flat in Tamworth, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Tamworth with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ends on 21st October 2078
With just 53 years unexpired we estimate the price of your lease extension to be between £27,600 and £31,800 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.