What does my ID and proof of funds have anything to do with my conveyancing in Bryn Y Baal? Why is this being asked of me?
Bryn Y Baal conveyancing solicitors as well as nationwide property practitioners throughout the UK have an obligation under money laundering regulations to verify the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to produce two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and evidence of address (usually a Utility Bill less than 3 months old).
Proof of source of funds is also required under the money laundering laws as conveyancers are obliged to ensure that the money you are using to buy a property (whether it be the deposit for exchange or the full purchase price if you are buying mortgage free) has come from legitimate source (such as employment savings) rather than the fruits of illegitimate behaviour.
I am purchasing a new build flat in Bryn Y Baal. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Bryn Y Baal you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Bryn Y Baal.
My wife and I are buying a apartment in Bryn Y Baal. I might seem paranoid but how we can trust a conveyancer? At some point we will need to deposit funds into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I currently have a mortgage with UBS for my property in Bryn Y Baal. 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 UBS?
UBS must be informed of your intention in advance of letting out your property as this is likely to be a breach of UBS’s mortgage conditions. It may be that UBS 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 UBS directly. You need not do this via a UBS conveyancing panel lawyer.
At last I have had an offer on a maisonette in Bryn Y Baal agreed to, the vendors do nevertheless have a connected purchase. The sellers have offered on on an apartment, but it’s not been accepted yet, and are looking at other properties booked. I have chosen a local conveyancing solicitor in Bryn Y Baal. What should be my next step? When do I get the mortgage application with UBS started?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx £1k, then survey, Bryn Y Baal conveyancing search fees, etc). First, you should check that your conveyancing practitioner is on the UBS approved list. Regarding the next stages this very much depends on the uniqueness of your transaction, attraction to this property and on the state of the market. In a hot market many purchasers would apply for a home loan with UBS and arrange for the valuation and only if it comes back ok would they pay their lawyer to proceed with searches.
I have recentlybeen informed that Wolstenholmes have closed. They conducted my conveyancing in Bryn Y Baal for a purchase of a freehold house 10 months ago. How can I check that my home is registered correctly in the name of the previous owner?
The easiest way to see if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bryn Y Baal conveyancing specialists.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what should have been a straight forward, chain free conveyancing. Bryn Y Baal is where the house is located. Can you shed any light on this issue?
Flying freeholds in Bryn Y Baal are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bryn Y Baal you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bryn Y Baal may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am looking for a conveyancing solicitor in Bryn Y Baal for my home move. Is there any facility to review a solicitor's complaints history with the profession’s regulator?
Members of the public can read documented Solicitor Regulator Association (SRA) decisions resulting from investigations from 2008 onwards. Visit Check a solicitor's record. To find information Pre 2008, or to check a firm's history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, call +44 (0)121 329 6800. The regulator could monitor call for training purposes.