I am expecting a offer of a home loan from Nat West. I hope to instruct a Licensed Conveyancer in East Hunsbury. Does the Nat West Solicitor panel allow for conveyancers regulated by the CLC?
The Nat West approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
In what way does my ID and proof of funds have anything to do with my conveyancing in East Hunsbury? What am I being asked for?
In order to comply with Money Laundering Regulations any East Hunsbury 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 bill evidencing your correct address.
In accordance with Money Laundering Regulations, conveyancing solicitors are duty bound to check not just the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. An unwillingness to disclose this will result in your conveyancer cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to make a disclosure to the appropriate authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
How does conveyancing in East Hunsbury differ for new build properties?
Most buyers of new build or newly converted property in East Hunsbury contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is built. This is because builders in East Hunsbury tend to acquire 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 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 used to new build conveyancing in East Hunsbury or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £235,500 and identified one round the corner in East Hunsbury I like with amenity areas 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 East Hunsbury for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage that many years will likely be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
I have been advised by a few estate agents in East Hunsbury to locate a conveyancer using your seach tool. What’s the financial advantage for Estate Agents to recommend your lawyers rather than another?
We refuse to give any financial incentive for directing people in our direction. We thought it would be too underhand to pay a commission because a client could think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I need to retain a conveyancing solicitor for purchase conveyancing in East Hunsbury. I have stumble across a web site which looks to be the ideal offering If there is a chance to get all the legals completed via email that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?