What does my ID and proof of funds have anything to do with my conveyancing in Consett? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Consett conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility account showing your correct address.
Under Money Laundering Regulations, property lawyers are obliged by law to investigate not just the ID of conveyancing clients but also the source of the money that they receive in respect of any matter. An unwillingness to disclose this will result in your solicitor cancelling 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 inform the appropriate authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
Do the Building Society Association intend to launch a searchable register to to identify firms on the Melton Mowbray Building Society conveyancing panel for example in Consett?
We would not expect to be advised of any intention on the part of the BSA to promote such a tool.
Various internet forums that I have visited warn that are the main cause of obstruction in Consett house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances in the conveyancing process. Local searches are not likely to feature in any holding up conveyancing in Consett.
five months have elapsed following my purchase conveyancing in Consett concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. 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.
How does conveyancing in Consett differ for newly converted properties?
Most buyers of new build premises in Consett contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Consett typically purchase the land, 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 conveyancers 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 Consett or who has acted in the same development.
I am looking to sell my house. My previous conveyancers has retired. It would be helpful to have a recommendation of a conveyancing firm. Im based in Consett if that makes a difference.
You should use our search tool to help you find a solicitor for your conveyancing in Consett. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.