What does my ID and proof of funds have anything to do with my conveyancing in Prescot? Is this really necessary?
In order to comply with Money Laundering Regulations any Prescot conveyancing firm will require proof of identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility account evidencing your correct address.
Under Money Laundering Regulations, conveyancing solicitors are obliged by law to validate not only the ID of conveyancing clients but also the origin of fund that they receive in respect of any matter. An unwillingness to disclose this will result in your solicitor terminating their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to make a disclosure to the relevant authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
Are there restrictive covenants that are commonly picked up during conveyancing in Prescot?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Prescot. 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…’
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a simple, no chain conveyancing. Prescot is the location of the property. Can you offer any opinion?
Flying freeholds in Prescot are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Prescot you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Prescot may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I have been advised by numerous selling agents in Prescot to find a conveyancer on your site. Is there a financial upside for Estate Agents to promote your services over and above alternative conveyancing organisations?
We refuse to make any referral fee for directing people in our direction. We thought it would be too underhand to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
How much experience do your Prescot conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
Prescot conveyancing lawyers help thousands of people move home every year and assisted lots of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Prescot conveyancers have worked on recent similar cases.