In what way does my ID and proof of funds have anything to do with my conveyancing in Tooting Bec? Is this really warranted?
Tooting Bec conveyancing solicitors and indeed property practitioners accross the UK have an obligation under Anti-terror and anti-money-laundering rules to verify the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and evidence of address (usually a Utility Bill no older than three months).
Confirmation of source of monies is also necessary in accordance with the money laundering regulations as lawyers are obliged to investigate that the funds you are using to purchase a property (whether it be the deposit for exchange or the total purchase price where you are buying mortgage free) has originated from an acceptable source (such as an inheritance) and is not the fruits of criminal activity.
I just bought a flat at auction in Tooting Bec. Conveyancing is required. What are my next steps?
Now that you have exchanged you must hire the services of a conveyancing solicitor as a matter of urgency as you are facing a fast approaching a drop dead date to complete the transaction. Every auction property should have an associated auction set of papers. This will include evidence of title and search results. Where you are dealing with leasehold premises the conveyancing papers should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to a leasehold property. You must give this to the lawyer working for you as soon as possible. You also need to ensure that you have funds in order to complete the transaction on the set completion date.
My conveyancer has informed me that restrictive coveneant insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Tooting Bec?
The right level of restrictive coveneant indemnity insurance should be dictated by who who your lender is. It would differ for example between Barclays and Virgin Money. Conveyancing practitioners as opposed to borrowers take out such policies.
I have a mortgage with Bank of Ireland for my property in Tooting Bec. Conveyancing was finalised some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bank of Ireland?
Your original mortgage agreement with Bank of Ireland will provide that you need their approval before renting your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. It may be that Bank of Ireland will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bank of Ireland directly. You need not do this via a Bank of Ireland conveyancing panel firm.
Are there restrictive covenants that are commonly picked up during conveyancing in Tooting Bec?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Tooting Bec. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I opted to have a survey done on a property in Tooting Bec ahead of instructing conveyancers. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some banks tend not issue a loan on a flying freehold house.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. Should you wish to telephone us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Tooting Bec. Conveyancing may be slightly more expensive based on your lender's requirements.
As co-executor for the estate of my grandfather I am selling a residence in Neath but I am based in Tooting Bec. My lawyer (based 250 kilometers awayhas requested that I sign a statutory declaration ahead of the transaction finalising. Can you recommend a conveyancing lawyer in Tooting Bec who can attest this legal document for me?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will suffice regardless of whether they are based in Tooting Bec
I'm purchasing a house in Tooting Bec. I have found my conveyancer's company on the CLC list, but I can't see my conveyancer's name on the list. Should I be concerned?
Not every individual in the company must be listed by the regulator. As long there is a manager qualified to 'oversee' the conveyancing, the actual day-to-day activity can be conducted by unlicensed staff.