What does my ID and proof of funds have anything to do with my conveyancing in Worthing? Is this really warranted?
It is indeed that case that these requests have nothing to do with conveyancing in Worthing. Nowadays you can not proceed with any conveyancing deal without first providing proof of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a bank statement. Remember if you are supplying your driving licence as evidence of identification it needs to be both the paper section as well as the photo card part, one is not satisfactory in the absence of the other.
Proof of the source of funds is required under Money Laundering Regulations. Don’t be offended when when this is requested of you as your conveyancing solicitor must retain this information on record. Your Worthing conveyancing solicitor will require evidence of proof of funds prior to accepting any funds from you into their client account and they should also ask further questions concerning the source of funds.
My grandfather passed away six months ago and as sole heir and executor I was left the property in Worthing. The house had a small mortgage remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this possible?
Given you plan to refinance then HSBC will insist on your using a conveyancer on the HSBC conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your HSBC conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the HSBC mortgage is registered as a charge at the Land Registry.
A friend advised me that if I am buying in Worthing I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Worthing conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Worthing around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Worthing Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Worthing Education with maps and statistics, Local Amenities and other useful data regarding Worthing.
How straightforward is it to use your search tool to locate a conveyancing solicitor in Worthing on the authorised to act for my mortgage?
First select a lender such as Birmingham Midshires, Coventry Building Society or Barclays Direct then type in your location such as Worthing. Conveyancing organisations in Worthing and across England and Wales should be listed.
Back In 2000, I bought a leasehold house in Worthing. Conveyancing and National Westminster Bank mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Worthing who previously acted has long since retired. Do I pay?
First contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Worthing conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a 1st floor flat in Worthing, conveyancing formalities finalised 10 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Worthing with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £55 yearly. The lease runs out on 21st October 2076
You have 51 years left to run we estimate the price of your lease extension to span between £30,400 and £35,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.
Our conveyancer in Worthing has discovered a a problem with the lease for the flat we are purchasing in Worthing. The seller’s lawyers have offered title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer has advised that as he is on the lender conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or the mortgage company?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.