What does my ID and proof of funds have anything to do with my conveyancing in Milton? Is this really warranted?
Milton conveyancing solicitors and indeed property lawyers throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to verify the ID of any client with a view to satisfy themselves 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 proof of address (typically a Utility Bill less than 3 months old).
Evidence of the origin of monies is also necessary under the money laundering laws as conveyancers are obliged to check that the money you are using to acquire a property (be it the exchange deposit or the total purchase price where you are buying mortgage free) has come from legitimate source (such as employment savings) rather than the proceeds of illegitimate behaviour.
My wife and I are purchasing a apartment in Milton. It might be a silly question but how we can trust a lawyer? At some point we will need to send funds into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We had chosen conveyancers locally in Milton on the Clydesdale solicitor approved list. They have just invoiced me a supplemental charge for dealing with the Clydesdale mortgage. Is this a supplemental conveyancing fee specified by Clydesdale?
As unfair as it may seem, as long as it’s in their Terms of Engagement or estimate then yes your property lawyer may levy a fee for this. The charge is not dictated by Clydesdale but by your Milton lawyer. Plenty of firms on the Clydesdale panel will charge ’dealing with mortgage’ fee but some practices incorporate it on their overall fee.
I recently had an offer accepted on a house in Milton. My financial adviser suggested a conveyancer. I paid an advanced payment of £225. A couple of days later, the conveyancer contacted me sheepishly admitting that they were not on the Barclays conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Barclays panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I opted to have a survey carried out on a house in Milton ahead of retaining conveyancers. I have been told that there is a flying freehold element to the property. The surveyor has said that some lenders will not issue a loan on a flying freehold property.
It varies from the lender to lender. HSBC has different requirements for example to Halifax. Should you wish to telephone us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Milton. Conveyancing may be slightly more expensive based on your lender's requirements.
Is there anything unique about your site and other web based conveyancing brokers when it comes to conveyancing in Milton?
At this site obtain a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that understands the issues of your conveyancing in Milton. Unlike many estate agents and many comparison sites we do not operate referral arrangements with solicitors. Some agents and online brokers 'recommend' the firm who pay the most per referral, as opposed to the best value conveyancing in Milton
Due to complete next month on a ground floor flat in Milton. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Milton should include some of the following:
Who has the liability to repair and maintain the main walls and foundations. It is important that you know which party is duty bound to repair and maintenance of every part of the building Repair and maintenance of the premises You must be informed what is to be regarded as a Nuisance in the lease Do you need to have carpet in the flat or are you allowed wood flooring? Additions to the flat
Milton Leasehold Conveyancing - A selection of Questions you should consider before buying
For many Milton leaseholds the cost for major works are not included within maintenance charges, albeit that a few managing agents in Milton obliged leaseholders to contribute towards a sinking fund and this is used to offset against major works. Many Milton leasehold properties will have a service charge for the upkeep of the building invoiced on behalf of the freeholder. Where you purchase the property you will have to meet this contribution, usually periodically during the year. This may differ from several hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. There will also be a rentcharge to be met yearly, normally this is not a large figure, say around £50-£100 but you should to enquire it because on occasion it can be prohibitively expensive. It would be prudent to find out as much as possible about the managing agents as they will either make living at the property much easier or uncomfortable. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to daily issues like the cleanliness of the common parts. Ask other people if they are happy with their management. In conclusion, be sure you discover the dates that you are obliged pay the service charge to the managing agents and specifically what you get for your money.