What does my ID and proof of funds have anything to do with my conveyancing in Enfield? What am I being asked for?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identity of the potential client they are dealing with prior to agreeing to accepting their conveyancing instruction. The Client Care letter that you need to sign should reaffirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. If you are unwilling to hand over ID verification documents, your conveyancer can not take you on as a client.
My aunt passed away last year and as sole heir and executor I was left the property in Enfield. The house had a relatively small loan remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to UBS, pay off the mortgage. Is this allowed?
Where you intend to refinance then UBS will require that you use 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.
Is it the case that all Enfield solicitor firms on the Barclays conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Barclays conveyancing panel they would need to be overseen by the SRA. Many lenders do permit licenced conveyancers on their panel in which case such practice would be governed by the Council of Licensed Conveyancers.
How can we tell if a Enfield conveyancing solicitor on the Co-operative panel is any good?
When it comes to conveyancing in Enfield obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor carrying out your transaction.
I am due to exchange contracts on my flat. I had a double glazing fitted in February 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Coventry BS are being pedantic. The Enfield solicitor who is on the Coventry BS conveyancing panel is recommending indemnity insurance as a solution but Coventry BS are requiring a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have been told that property searches are the main reason for hinderance in Enfield conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances in the conveyancing process. Searches are not likely to feature in any slowing down conveyancing in Enfield.
When it comes to my conveyancing in Enfield should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Enfield conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancer's time in submitting the funds this way.