We are buying a flat in Chadwell St Mary. I might seem paranoid but how we can trust a conveyancer? At some point we will need to put money 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.
Are all Chadwell St Mary Conveyancing Quality Solicitors on the Leeds Building Society conveyancing panel?
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. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
I have instructed a Chadwell St Mary conveyancer having checked that they are on the Virgin Money conveyancing panel. Does my lawyer arrange the survey of the property?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Chadwell St Mary postcode. As you are getting a mortgage with Virgin Money, you could contact them to see if they have a list of approved surveyors in Chadwell St Mary.
Should our lawyer be raising questions concerning flooding during the conveyancing in Chadwell St Mary.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Chadwell St Mary. Plenty of people will acquire a house in Chadwell St Mary, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to give advice on flood risk, but there are a number of checks that may be carried out by the buyer or on a buyer’s behalf which will figure out the risks in Chadwell St Mary. The conventional set of completed inquiry forms sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) includes a standard inquiry of the seller to find out whether the premises has suffered from flooding. If flooding has previously occurred and is not notified by the vendor, then a buyer may bring a legal claim for losses as a result of such an inaccurate reply. A buyer’s conveyancers may also order an enviro search. This will disclose if there is any known flood risk. If so, further inquiries should be conducted.
I used Wolstenholmes several years past for my conveyancing in Chadwell St Mary. I now require my file however the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Chadwell St Mary of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying my first flat in Chadwell St Mary with a mortgage from Coventry Building Society. The developers refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent told me not reveal to my solicitor about this deal as it will put at risk my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a flat up to £235,500 and identified one near me in Chadwell St Mary I like with a park and railway links in the vicinity, the downside is that it's only got 52 years unexpired on the lease. I can't really find anything else in Chadwell St Mary in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan that many years may be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
I am purchasing a maisonette with all finances in place. My lawyer has been supplied with with 2 distinct proof of photo ID, bank statement, endless utility bills. Now he requires a copy from a probate lawyer acknowledging that the money is in order and that it has come from inheritance and not via illegitimate means.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Chadwell St Mary conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.