What does my ID and proof of funds have anything to do with my conveyancing in Havering-atte-Bower? What am I being asked for?
To satisfy the Money Laundering Regulations any Havering-atte-Bower conveyancing firm will require evidence of your identity in all conveyancing transactions. This is usually satisfied by provision of a passport and an original bank statement or utility account evidencing where you reside.
Under Money Laundering Regulations, property lawyers are obliged by law to ascertain not simply the ID of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this will result in your conveyancer 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 relevant authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
is it true that all Havering-atte-Bower solicitor firms on the UBS conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the UBS approved list of solicitors they would need to be regulated by the SRA. The majority of lenders do permit licenced conveyancers on their panel in which case such practice would be governed by the CLC.
How can we tell if a Havering-atte-Bower conveyancing solicitor on the Coventry BS panel is any good?
When it comes to conveyancing in Havering-atte-Bower obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor handling your transaction.
I currently have a mortgage with Lloyds for my property in Havering-atte-Bower. Conveyancing has been completed some time 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 buy-to-let mortgage or inform Lloyds?
Your original mortgage agreement with Lloyds will provide that you need their approval prior to letting out your property as this is likely to be a breach of Lloyds’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 Lloyds directly. It should not be necessary to do this via a Lloyds conveyancing panel lawyer.
I have been told that property searches are a common cause of delay in Havering-atte-Bower conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Havering-atte-Bower.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Havering-atte-Bower?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Havering-atte-Bower. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am purchasing my first flat in Havering-atte-Bower benefiting from help to buy. The builders would not budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent suggested that I not inform my lawyer about this deal as it will affect my mortgage with Platform Home Loans Ltd. 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.
How do I locate a Havering-atte-Bower law firm on the TSB conveyancing panel? I have wheels and am prepared to travel upto 25miles to meet the lawyer.
You can use the facility on this website. Please select a lender and your location and you will see a number of Havering-atte-Bower conveyancing lawyers locally. We have listed some Havering-atte-Bower conveyancing firms towards the end of this page and you can call them to verify if they are on the TSB panel