What does my ID and proof of funds have anything to do with my conveyancing in Penn? Why is this being asked of me?
Penn conveyancing solicitors as well as nationwide property practitioners accross the UK have a duty under Anti-terror and anti-money-laundering rules to verify the identity of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and evidence of address (usually a Bank Statement less than 3 months old).
Confirmation of the origin of funds is also necessary under the money laundering regulations as solicitors have a duty to ensure that the monies you are utilising to buy a property (be it the exchange deposit or the full purchase monies if you are a cash purchaser) has originated from an acceptable source (such as an inheritance) rather than the product of criminal behaviour.
My uncle passed away six months ago and as sole heir and executor I was left the property in Penn. The house had a relatively small loan remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to UBS, pay off the mortgage. Is this possible?
Where you plan to refinance then UBS will insist on your using a conveyancer on the UBS 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 UBS 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 UBS mortgage is registered as a charge at the Land Registry.
We are planning to move house in September. Should my conveyancing solicitor update the removal company on the day of completion. As an aside, can you suggest a removal company in Penn. Conveyancing firm was chosen prior to coming across your page.
On the day of completion you can collect the keys from your property agent however this can only occur after the sellers solicitors confirm to the agent that they have the completion monies and the keys can be collected. After that you should tell the removal men that you are ready to move in. As a matter of policy we do not suggest a specific removal organisation but can assist you in locating a conveyancing in Penn or a firm that specialises in conveyancing in Penn.
I have decided to exercise my right to buy my property in Penn off the council. I have a mortgage offer with HSBC. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
I have a mortgage with RBS for my property in Penn. Conveyancing was finalised some time ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform RBS?
RBS must be informed of your intention before letting out your property as this is likely to be a breach of RBS’s mortgage conditions. It may be that RBS will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact RBS directly. You need not do this via a RBS conveyancing panel firm.
3 months have gone by since my purchase conveyancing in Penn concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the advice of my in-laws I had a survey completed on a house in Penn prior to retaining solicitors. I have been told that there is a flying freehold overhang to the property. The surveyor has said that some lenders may not give a loan on such a premises.
It varies from the lender to lender. HSBC has different instructions from Nationwide. Should you wish to telephone us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Penn. Conveyancing will be smoother if you use a solicitor in Penn especially if they regularly deal with such properties in Penn.