What does my ID and proof of funds have anything to do with my conveyancing in Wheathampstead? Why is this being asked of me?

It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Wheathampstead. However these days you can not proceed with any conveyancing process without first supplying evidence of your identity. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are supplying your driving licence as proof of identification it must be both the paper part as well as the photo card part, one is not acceptable in the absence of the other.

Verification of your origin of monies is necessary under Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancing solicitor must have this information on file. Your Wheathampstead conveyancing solicitor will need to see evidence of proof of funds prior to accepting any money from you into their client account and they should also ask further queries concerning the source of monies.

I got the keys to my flat on 8 October and my personal details is yet to be on the land registry website. Any reason for this? My conveyancing solicitor in Wheathampstead advises it would be formalised in a couple of weeks. Are titles in Wheathampstead uniquely lengthy to register?

As far as conveyancing in Wheathampstead is concerned, registration is no faster or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timeframes can vary subject to who lodges the application, whether there are errors and if the Land registry must send notices to any 3rd parties. At present approximately three quarters of submission are fully addressed within 12 days but some can be subject to protracted delays. Historically registration takes place once the purchaser has moved in to the property therefore an expedited registration is not always primary concern but if it is urgent that the the registration takes place urgently then you or your solicitor must speak with the land registry and explain the circumstances.

About to purchase a new build flat in Wheathampstead. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.

Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Wheathampstead

The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply a car parking plan. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.

Are there common problems that you come across in leases for Wheathampstead properties?

There is nothing unique about leasehold conveyancing in Wheathampstead. Most leases are drafted differently and drafting errors can result in certain clauses are not included. The following missing provisions could result in a defective lease:

A provision for the recovery of money spent for the benefit of another party.

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, The Mortgage Works, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to withdraw.

Wheathampstead Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing

How much is the ground rent and service charge? You should be aware that where the lease has fewer than eighty years it will impact the value of the flat. Check with your bank that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and you need to have some idea of how much this will be. Remember, in most cases you would be required to have been the owner of the residence for a couple of years in order to be entitled to carry out a lease extension. Plenty Wheathampstead leasehold apartments will have a service charge for the upkeep of the block set by the landlord. Where you acquire the flat you will have to pay this amount, normally quarterly throughout the year. This may vary from a few hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent for you to pay annual, ordinarily this is not a significant amount, say approximately £25-£75 but you should to check as on occasion it can be prohibitively expensive.

We had our mortgage agreed in principle on Monday with our bank. We have retained a long established conveyancer in Wheathampstead yesterday. Today, our financial adviser contacted us saying that the bank said that we cannot use our solicitor as they aren't on their panel. As FTB's, we had no idea that the mortgage company had a say Is this usual?

You are at liberty to select any property lawyer you want to use for your conveyancing in Wheathampstead however if they are not on the your lender's panel you must pay an extra fee so the mortgage company can retain their own solicitors as well to protect their interest. sometimes it is conceivable that your solicitor may apply to get included on to the lender list of approved firms. Do make the most of web-based search facilities including lenderpanel.com to find a conveyancing solcitor in Wheathampstead on the mortgage company panel. You can go into your high street lender branch in Wheathampstead. They can recommend conveyancing solicitors in Wheathampstead on the lender panel.