In what way does my ID and proof of funds have anything to do with my conveyancing in Corsham? What am I being asked for?
To satisfy the Money Laundering Regulations any Corsham conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility bill showing where you live.
Under Money Laundering Regulations, conveyancing solicitors are obliged by law to ascertain not simply the identity of conveyancing clients but also the origin of monies that they receive in respect of any matter. An unwillingness to disclose this will result in your conveyancer ending their relationship 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 relevant authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
We are hoping to buy a purpose built apartment in Corsham with a residential mortgage from National Westminster Bank.We use our Corsham conveyancing practitioner but National Westminster Bank advised that she’s not on their "panel". We have to appoint a National Westminster Bank panel solicitor or keep our local solicitor and pay for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that National Westminster Bank use our lawyer?
No, not really. The loan issued to you contains terms and conditions, a common one being that solicitors must be on the National Westminster Bank conveyancing panel. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for National Westminster Bank
Will our lawyer be making enquiries about flooding during the conveyancing in Corsham.
The risk of flooding is if increasing concern for lawyers conducting conveyancing in Corsham. Plenty of people will purchase a property in Corsham, fully aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not best placed to give advice on flood risk, however there are a various searches that can be undertaken by the buyer or by their solicitors which will give them a better appreciation of the risks in Corsham. The conventional set of property information forms supplied to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the seller to discover if the property has ever been flooded. In the event that the residence has been flooded in past and is not disclosed by the vendor, then a purchaser could bring a compensation claim as a result of such an misleading response. The buyer’s conveyancers will also carry out an enviro search. This will indicate whether there is any known flood risk. If so, more detailed investigations should be initiated.
Due to the advice of my in-laws I had a survey completed on a house in Corsham prior to instructing conveyancers. I have been advised that there is a flying freehold element to the property. The surveyor advised that some banks may not issue a loan on this type of home.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. If you call us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Corsham. Conveyancing will be smoother if you use a solicitor in Corsham especially if they are accustomed to such properties in Corsham.
I am selling my home. My previous solicitors have shut. I would be grateful for any recommendation of a conveyancing firm. Im based in Corsham if that makes things easier.
Please use our search tool to help you find a solicitor for your conveyancing in Corsham. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
There are a number of houses in Corsham on private lanes. I am acquiring one such property. Are there any advantages to purchasing a house on a private road?
Corsham conveyancing lawyers are used to conveyancing propertieson unadopted roads. The property lawyer will investigate Land Registry data to identify any rights or responsibilities. In many cases there is a residents association that owners pay into to maintain the road. If one exists, the road will likely be maintained and appear nicer than publicly adopted.