In what way does my ID and proof of funds have anything to do with my conveyancing in Berkshire? Is this really necessary?
Berkshire conveyancing solicitors as well as nationwide property lawyers throughout the UK have a duty under Anti-terror and anti-money-laundering rules to check the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to disclose two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and evidence of address (typically a Bank Statement less than 3 months old).
Confirmation of the origin of funds is also necessary in compliance with the money laundering laws as conveyancers are mandated to ensure that the monies you are using to acquire a property (be it the exchange deposit or the full purchase price where you are buying without a mortgage) has originated from a reputable source (such as an inheritance) rather than the product of illegitimate activity.
This question may be naive but I am unseasoned as FTB of a garden flat in Berkshire. Do I collect the keys to the house on the completion date from my solicitor? If so, I will find a local conveyancing solicitor in Berkshire?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the purchase money to the vendor’s lawyers, and once they have received this, you should be able to pick up the keys from the selling Agents and start moving into the property. This tends to happen early afternoon.
My conveyancer has informed me that breach of easement insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Berkshire?
The appropriate level of breach of easement indemnity insurance depends on your lender. It would differ for example between Barclays and Norwich and Peterborough Building Society. Conveyancing lawyers as opposed to borrowers take out such policies.
We previously chose conveyancing lawyers based in Berkshire on the TSB solicitor panel. They are now charging me a separate sum for the legal aspects of the TSB mortgage. Is this a supplemental conveyancing fee set by TSB?
As unfair as it may appear, as long as it’s in their Terms and Conditions or Quote then yes your conveyancer is entitled to charge a fee for this. This charge is not set by TSB but by your Berkshire solicitor. Numerous firms on the TSB panel will levy an ‘acting for lender’ fee and others do not.
I am buying a new build apartment in Berkshire. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Berkshire
Forfeiture - bankruptcy or liquidation must not apply under this provision. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I have been on the look out for a flat up to £245,000 and found one close by in Berkshire I like with a park and transport links nearby, however it only has 51 years on the lease. There is not much else in Berkshire suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage that many years will be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
My father-in-law has urged me to use his conveyancers in Berkshire. Should I use them?
Much as we are happy to recommend a Berkshire conveyancing lawyer it’s preferable to select a conveyancing lawyer is to have referrals from friends or relatives who have previously instructed the conveyancer you're considering.