In what way does my ID and proof of funds have anything to do with my conveyancing in Herne Hill? What am I being asked for?
You are right in these requests have nothing to do with conveyancing in Herne Hill. However these days you can not complete any conveyancing process without first providing evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence and a bank statement. Remember if you are providing your driving licence as proof of ID it must be both the paper part as well as the photo card part, one is not sufficient in the absence of the other.
Verification of your origin of money is mandated under Money Laundering Regulations. You should not be offended when when this is requested of you as your conveyancing solicitor will need to have this information on file. Your Herne Hill conveyancing lawyer will need to see evidence of proof of funds prior to accepting any money from you into their client account and they may also ask further questions concerning the origin of monies.
we are a couple who are purchasing a 1 bedroom flat in Herne Hill with a loan from National Westminster Bank.We use our Herne Hill conveyancing practitioner but National Westminster Bank says he's not listed on their "panel". we are left little option but to use a National Westminster Bank panel firm or keep our high street solicitor and pay for a National Westminster Bank panel lawyer to act for them. We feel as though this is unjust; Can we not simply insist that National Westminster Bank use our lawyer?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that solicitors must be on the National Westminster Bank conveyancing panel. Until recently, most banks had large numbers of law firms on their panels: a borrower could find 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 lawyer to apply to be on the conveyancing panel for National Westminster Bank
Forgive me if this question is silly but I am unexperienced as FTB of a garden flat in Herne Hill. Do I collect the keys to the house on completion from my conveyancer? If so, I will use a local conveyancing solicitor in Herne Hill?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the purchase money to the owner’s lawyers, and shortly after the monies have arrived, you will be called to receive the keys from the selling Agents and start moving into the property. Usually this happens between 1 and 3pm.
A colleague pointed out to me me that in buying a property in Herne Hill there may be various restrictions affecting the ability to carry out external changes to the property. Is this right?
We are aware of a number of properties in Herne Hill which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Herne Hill should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
is it true that all Herne Hill solicitors on the Nationwide conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Nationwide conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. Many lenders do permit licenced conveyancers on their panel and in that case the practice would be governed by the CLC.
About to purchase a new build apartment in Herne Hill. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Herne Hill
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Please supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants.
Am I best advised to choose a Herne Hill conveyancing lawyer in close proximity to the house I am hoping to buy? An old friend can handle the conveyancing but they are based 200miles away.
The benefit of a local Herne Hill conveyancing firm is that you can visit the firm to sign paperwork, deliver your identification documents and pester them if necessary. Having local Herne Hill know how is a bonus. That being said it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and they were content that must surpass using an unfamiliar Herne Hill conveyancing solicitor just because they are local.
Are the Herne Hill conveyancing lawyers identified as being on the lender conveyancing panel, together with their details provided by the bank?
Herne Hill firms and firms carrying out conveyancing in Herne Hill themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the lender directly.