I am getting a mortgage with Halifax. I would like to employ the services of a Licensed Conveyancer in East Sheen. Does the Halifax Solicitor panel exclude Licensed Conveyancers?
The Halifax conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
In what way does my ID and proof of funds have anything to do with my conveyancing in East Sheen? What am I being asked for?
East Sheen conveyancing solicitors and indeed property lawyers throughout the UK have a duty under money laundering regulations to check the identity of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and evidence of address (usually a Utility Bill less than 3 months old).
Confirmation of the origin of monies is also required under the money laundering regulations as lawyers have a duty to ensure that the money you are using to acquire a property (be it the exchange deposit or the total purchase amount where you are a cash purchaser) has originated from legitimate source (such as employment savings) as opposed to the product of criminal activity.
When it comes to mortgage companies such as HSBC, do East Sheen solicitors face a yearly amount to be on the conveyancing panel?
We are unaware of any bank fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I have decided to exercise my right to buy my property in East Sheen off the council. I have a mortgage offer with Nationwide. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nationwide, you will need to appoint a solicitor on the Nationwide conveyancing panel.
The mortgage over my property is with HSBC for my property in East Sheen. Conveyancing has been completed a year ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform HSBC?
Your original mortgage agreement with HSBC will provide that you need their approval prior to letting out your property as this is likely to be a breach of HSBC’s mortgage conditions. In many cases banks or building societies will allow you to rent 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 HSBC directly. You need not do this via a HSBC conveyancing panel firm.
I am purchasing a new build house in East Sheen with a mortgage from Leeds Building Society. The builders refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not inform my solicitor about this deal as it could put at risk my mortgage with Leeds Building Society. Should I keep quiet?.
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.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. East Sheen is the location of the property. What do you suggest?
Flying freeholds in East Sheen are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside East Sheen you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in East Sheen may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I previously told by my lender that their panel lawyers work on no sale no fee basis for conveyancing in East Sheen. My purchase did not proceed and now the solicitors have requested search fees! They say the fees are seperate!
in promising "no sale no fee" East Sheen conveyancing firms are waiving their charges for any work carried out. We should point out that this is not to be regarded as an insurance scheme. Disbursements aren’t covered – where the solicitor have to pay money out to independent parties, e.g. East Sheen local search fees