What does my ID and proof of funds have anything to do with my conveyancing in Caterham? What am I being asked for?
Caterham conveyancing solicitors and indeed property lawyers accross the UK have an obligation under Anti-terror and anti-money-laundering rules to check the identity of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to provide two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and evidence of address (usually a Bank Statement no more than three months).
Evidence of source of monies is also necessary under the money laundering regulations as lawyers are required to investigate that the funds you are using to acquire a property (be it the exchange deposit or the full purchase price if you are a cash purchaser) has come from a reputable source (such as employment savings) and is not the fruits of illegitimate activity.
My Conveyancer in Caterham has never been on on the Alliance & Leicester Solicitor Panel. Can I still retain my prefered solicitor notwithstanding that they are not on the Alliance & Leicester panel of approved conveyancing solicitors?
The limited options open to you here include:
- Complete the purchase with your existing Caterham lawyers but Alliance & Leicester will need to retain a lawyer on their list of acceptable firms. This will result in additional overall legal fees and cause delays.
- Get an alternative practitioner to to deal with the conveyancing, obviously checking they are on the Alliance & Leicester panel
Does a directory service exist listing Lloyds panel solicitors in Caterham on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lenders make their panel listings viewable online. If you are looking for a Caterham conveyancer on the Lloyds please make the most of our tool.
Is it the case that all Caterham solicitors on the Bank of Ireland conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Bank of Ireland approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. The majority of banks do list licenced conveyancers on their panel and in such a situation the organisation would be governed by the Council of Licensed Conveyancers.
I have a mortgage with Virgin Money for my property in Caterham. Conveyancing was finalised a year ago. Should I wish 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 Virgin Money?
You must advise Virgin Money prior to letting out your property as this is likely to be a breach of Virgin Money’s mortgage conditions. It may be that Virgin Money will permit you to let 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 Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel solicitor.
We are purchasing a house and the lawyer has referenced Chancel Repair to which the property may be obligated to contribute to as it falls into the area of such a church. She has recommended insurance. Is this strictly necessary for conveyancing in Caterham
Unless a previous acquisition of the premises completed after 12 October 2013 you may take it that lawyers conducting conveyancing in Caterham to continue to suggest a chancel search and or insurance against a claim.
I am looking for a flat up to £245,000 and identified one near me in Caterham I like with amenity areas and railway links in the vicinity, however it's only got 52 remaining years left on the lease. There is not much else in Caterham in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan the remaining unexpired lease term will likely be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
What does commercial conveyancing in Caterham cover?
Non domestic conveyancing in Caterham incorporates a wide range of services, given by qualified solicitors, relating to business premises. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.