In what way does my ID and proof of funds have anything to do with my conveyancing in Braunton? Is this really warranted?
It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Braunton. However these days you can not complete any conveyancing deal if you have not providing evidence of your identity. This usually takes the form of a either your passport or driving licence as well as a bank statement. Remember if you are supplying your driving licence as proof of identification it must be both the paper part and photo card part, one is not satisfactory in the absence of the other.
Proof of your source of money is required under Money Laundering Regulations. Please do not be offended when you are asked to produce this as your lawyer will need to retain this information on record. Your Braunton conveyancing lawyer will need to see evidence of proof of funds before they are able to accept any monies from you into their client account and they should also ask additional queries regarding the source of monies.
Please explain the implications if my solicitor is removed from the Coventry BS Conveyancing panel ahead of completing my conveyancing in Braunton?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Are all Braunton Conveyancing Quality Solicitors on the Co-operative conveyancing list of approved practices?
A selection of banks and building societies now make use of the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
When it comes to lenders such as Co-operative, do Braunton conveyancers have to pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I am selling my house. I had a double glazing fitted in November 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Bank of Ireland are being a right pain. The Braunton solicitor who is on the Bank of Ireland conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Bank of Ireland are requiring a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland 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.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Braunton?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Braunton. 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…’
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one round the corner in Braunton I like with amenity areas and transport links nearby, the downside is that it only has 52 years on the lease. There is not much else in Braunton in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a home loan the remaining unexpired lease term will likely be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
Me and my husband accepted an offer on a Braunton house we inherited seven years ago in 2012. I have over a decades worth of conveyancing experience and, although retired, wish to conduct the legal work. The purchaser's lawyer has informed me that their Lenders will not allow you to do your own conveyancing requiring the funds to be transferred to a solicitor's bank account.
Mortgage instructions to conveyancing practitioners from all CML members specify that If the seller is not legally represented the buyer’s lawyers should check whether the lender needs to be told so that a decision can be reached as to whether or not they are prepared to progress.