In what way does my ID and proof of funds have anything to do with my conveyancing in Whyteleafe? Is this really necessary?
To satisfy the Money Laundering Regulations any Whyteleafe 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 evidencing your correct address.
Under Money Laundering Regulations, property lawyers are duty bound to check not simply the identity of conveyancing clients but also the source of monies that they receive in respect of any matter. Refusal to disclose this will result in your conveyancer 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 notify the appropriate authorities should they believe that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
My apartment in Whyteleafe is up for sale and I have a purchaser. Will the solicitor have to be on the Bank of Ireland conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Bank of Ireland conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently at the moment.
Is it correct that all Whyteleafe CQS (Conveyancing Quality Scheme) solicitors are on the Bank of Ireland conveyancing list of approved solicitors?
It is true that some lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
is it true that all Whyteleafe solicitor practices on the Nottingham conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Nottingham approved list of solicitors they would need to be overseen by the SRA. Some banks do list licenced conveyancers on their panel and in that case the organisation would be overseen by the Council of Licensed Conveyancers.
Planning on purchasing a apartment in Whyteleafe. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Whyteleafe conveyancing practitioner is on the UBS conveyancing panel.
Are there restrictive covenants that are commonly picked up during conveyancing in Whyteleafe?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Whyteleafe. 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 am looking for a ground for flat up to £245,000 and found one round the corner in Whyteleafe I like with a park and transport links in the vicinity, however it's only got 61 years on the lease. There is not much else in Whyteleafe suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan the shortness of the lease will be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
Can you offer any advice when it comes to appointing a Whyteleafe conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Whyteleafe conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Whyteleafe conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be helpful:
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Can they put you in touch with clients in Whyteleafe who can give a testimonial?
I have given up trying to purchase the freehold in Whyteleafe. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to decide the price payable.
An example of a Freehold Enfranchisement case for a Whyteleafe premises is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case related to 3 flats. The unexpired residue of the current lease was 75 years.