What does my ID and proof of funds have anything to do with my conveyancing in Castle Cary? Is this really warranted?
Castle Cary conveyancing solicitors and indeed property practitioners throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to verify the identity of any client with a view to ensure that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and proof of address (typically a Bank Statement no older than three months).
Confirmation of the origin of funds is also necessary in compliance with the money laundering statutes as conveyancers are obliged to investigate that the funds you are using to buy a property (be it the exchange deposit or the full purchase monies if you are a cash purchaser) has originated from a reputable source (such as employment savings) and is not the fruits of criminal activity.
Is it the case that all Castle Cary conveyancing solicitors on the Nationwide conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Nationwide approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. The majority of lenders do permit licenced conveyancers on their panel and in that case the organisation would be overseen by the Council of Licensed Conveyancers.
We have agreed to purchase a house in Castle Cary. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Kent Reliance be concerned?
As your lender is Kent Reliance your lawyer must check the conveyancing requirements outlined in Part two of UK Finance Lenders’ Handbook for Kent Reliance. The CML Handbook sets out minimum specifications for solar panel roof-space leases, and conveyancing practitioners are required to report to Kent Reliance where a lease does not comply with these requirements. The specifications relate to the installation of panels on properties nationwide and is not restricted to Castle Cary.
We were going to get a AIP from Coventry BS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Coventry BS recommend any Castle Cary solicitors on the Coventry BS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Castle Cary solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
Various web forums that I have come across warn that are the main reason for delay in Castle Cary conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of delay in conveyancing in Castle Cary.
It has been four months since my purchase conveyancing in Castle Cary took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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 premises 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.
My company is planning to lease a unit on a shopping parade. Can you recommend lawyers offering competitive charges for commercial conveyancing in Castle Cary for below £2000?
We can recommend firms who have well rounded knowledge of commercial conveyancing in Castle Cary, including the disposal and purchase of businesses as well as simply property. Whether you are hoping to buy or dispose of a shop, pub, restaurant, office, retail unit or a complete business we can find you the right solicitor. Regarding the costs these will vary based on the structure and nuances of the proposed transaction. Please provide us with your details or call so as to enable us to provide you with comprehensive commercial conveyancing quote.
What is the reason for my conveyancing practitioner requiring various items of identification ahead of starting my conveyancing in Castle Cary?
Castle Cary conveyancing practitioners are obliged by the Law Society, Solicitors Regulation Authority, the Land Registry and current AML Regulations to certify that the have checked the identity of their clients. It is also sometimes a condition of your mortgage offer. In addition they have to complete various forms, particularly those relating to SDLT and need to have details such as your full names, NI number and date of birth.