What does my ID and proof of funds have anything to do with my conveyancing in Bletchley? Is this really necessary?
To satisfy the Money Laundering Regulations any Bletchley conveyancing firm will require proof of identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility account showing your correct address.
Under Money Laundering Regulations, conveyancing solicitors are obliged by law to ascertain not simply the identity of conveyancing clients but also the origin of monies that they receive in respect of any matter. Refusal to disclose this will result in your solicitor cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to notify the relevant authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
The Bletchley conveyancing solicitors that I recently instructed on my house acquisition in Bletchley have without warning closed. They were on acting for me because I needed a solicitor on the UBS conveyancing panel and my preferred Bletchley lawyer was not. I paid them funds on account. What are my options?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the UBS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
I am purchasing a new build house in Bletchley benefiting from help to buy. The builders would not reduce the price so I negotiated 6k of extras instead. The house builders rep advised me not reveal to my conveyancer about the deal as it will put at risk my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the encouragement of my in-laws I had a survey completed on a house in Bletchley before appointing solicitors. I have been told that there is a flying freehold element to the property. The surveyor advised that some mortgage companies will not grant a loan on such a house.
It varies from the lender to lender. HSBC has different instructions from Halifax. If you contact us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bletchley. Conveyancing may be slightly more expensive based on your lender's requirements.
In sourcing the web for the phrase conveyancing in Bletchley it shows results of many conveyancersin the area. How do I determine which is the right solicitor for me?
The best way of finding the right conveyancer is via personal recommendation, so enquire of colleagues and those you trust who have acquired a property in Bletchley or the local estate agent or mortgage broker. Fees for conveyancing in Bletchley differ, so it's sensible to request a minimum of four fee estimates from varying types of conveyancers. Make sure that you know that the fees are fixed.
My husband and I are selling a Bletchley property we inherited six years ago in 2011. I have over twenty years conveyancing know-how and, now retired, intend to undertake my own conveyancing. The buyer's property lawyer has informed me that their bank will not allow you to do your own conveyancing requiring the funds to be sent to a solicitor's bank account.
Mortgage instructions to conveyancing practitioners from all CML members state that If the seller does not have legal representation the buyer’s lawyers should check whether the bank needs to be notified so that a decision can be made as to whether they are prepared to proceed.