In what way does my ID and proof of funds have anything to do with my conveyancing in Milford Haven? Is this really warranted?
In order to comply with Money Laundering Regulations any Milford Haven conveyancing firm will require proof of identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility account showing where you live.
Under Money Laundering Regulations, conveyancers are obliged by law to ascertain not only the ID of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this will result in your lawyer cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to notify the relevant authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.
My grandfather passed away six months ago and as sole heir and executor I was left the house in Milford Haven. The house had a relatively small loan left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this possible?
If you plan to re-mortgage then Nottingham will require that you use a conveyancer on the Nottingham 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 Nottingham 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 Nottingham mortgage is registered as a charge at the Land Registry.
Have purchased a a detached house in Milford Haven , how long should it take for the Land Registry to register my ownership? My Milford Haven conveyancing solicitor has been very slow, so I want to be certain that my name is registered.
As far as conveyancing in Milford Haven is concerned, registration is no faster or slower than the rest of the country. Rather than based on location, timescales can vary depending on who lodges the application, whether it is in order and whether the Land registry need to notify any other parties. As of today roughly 80% of such applications are fully dealt with within 12 days but some can be subject to extensive hold-ups. Registration is effected after the buyer has moved in to the premises therefore registration formalities is not always an essential issue yet if it is urgent that the the registration takes place urgently then you or your conveyancer should communicate with the Registry to express the reasoning for an expedited registration.
How does conveyancing in Milford Haven differ for new build properties?
Most buyers of new build premises in Milford Haven contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is built. This is because house builders in Milford Haven typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Milford Haven or who has acted in the same development.
I decided to have a survey completed on a property in Milford Haven ahead of instructing solicitors. I have been told that there is a flying freehold aspect to the house. The surveyor advised that some banks will refuse to give a mortgage on this type of premises.
It varies from the lender to lender. HSBC has different instructions from Birmingham Midshires. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Milford Haven. Conveyancing will be smoother if you use a solicitor in Milford Haven especially if they regularly deal with such properties in Milford Haven.