In what way does my ID and proof of funds have anything to do with my conveyancing in Castle Donington? What am I being asked for?
In order to comply with Money Laundering Regulations any Castle Donington conveyancing firm will require evidence of your identity in all conveyancing transactions. This is usually dealt with by provision of a passport and an original bank statement or utility account evidencing your correct address.
Under Money Laundering Regulations, conveyancing solicitors are obliged by law to ascertain not just the ID of conveyancing clients but also the source of monies that they receive in respect of any matter. Refusal to disclose this may lead to your lawyer ending 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 make a disclosure to the appropriate authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
What happens if my lawyer’s firm is suspended from the Kent Reliance Solicitor panel ahead of completing my conveyancing in Castle Donington?
The first thing to point out is that, this is a very rare occurrence. 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 at a cost.
When it comes to mortgage companies such as Bank of Ireland, do Castle Donington property lawyers face a fee to be on the list of approved solicitors?
We are unaware of any bank fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I'm in the throws of viewing flats in Castle Donington and I am about to put in an offer. Is it sensible to have a lawyer on ‘stand by’? I am planning to take a mortgage with Clydesdale.
It would be sensible to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. Given that you are taking out a mortgage with Clydesdale, make sure you remember to check that your lawyer is on the Clydesdale conveyancing panel.
I have paid off my mortgage with Lloyds. I assume I don't need a Castle Donington conveyancing practitioner on the Lloyds panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Lloyds mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Lloyds mortgage from the register. Lloyds, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Lloyds has sent the Land Registry the discharge electronically, and
- Lloyds has instructed the Land Registry to do so
How does conveyancing in Castle Donington differ for newly converted properties?
Most buyers of new build property in Castle Donington approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is finished. This is because builders in Castle Donington usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Castle Donington or who has acted in the same development.
My husband and I are four weeks into a leasehold purchase having been directed to conveyancers by the local agent to do our conveyancing in Castle Donington. I am am extremely disappointed with the level of service. Can you help me find new solicitors?
A conveyancer would have to be very poor to suggest replacing them. Has the loan offer been generated? If so you must inform them of the new contact details and get the mortgage documents are re-sent. The solicitor ideally should be on the mortgage company approved list to avoid supplemental expenses and delays. That should be your starting point. Our search tool should assist you in finding a lender approved lawyer for your conveyancing in Castle Donington
My brother is purchasing a ground floor flat in Castle Donington. He was given a quote by the property lawyer connected to the estate agents totaling £1300 . It was seven years ago I sold and purchased a property and the bill was £600. Have costs really increased to that extent?
We would recommend that you visit 3 or 4 local Castle Donington conveyancing solicitors requesting prices. You should base your decision not solely on cost, but on promptness and on how comprehensive the response was.