Much to our surprise we have been advised by our IFA that my Hornsey solicitor is not on the lender Solicitor panel. What can I do to check?
You need to contact your Hornsey lawyer directly. You lawyer should notify you what has happened. Where they are not on the panel they may recommend you to a Hornsey conveyancing practice that is on the conveyancing panel for your mortgage company.
What does my ID and proof of funds have anything to do with my conveyancing in Hornsey? Is this really necessary?
Hornsey conveyancing solicitors and indeed property lawyers throughout the UK have an obligation under money laundering regulations to verify the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and proof of address (typically a Utility Bill less than 3 months old).
Proof of source of monies is also necessary under the money laundering laws as solicitors have a duty to check that the funds you are utilising to buy a property (whether it be the deposit for exchange or the full purchase price where you are buying without a mortgage) has come from legitimate source (such as an inheritance) and is not the proceeds of illegitimate activity.
I have an AIP. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel conveyancer as I would much rather appoint a Hornsey based conveyancing firm?
You should check but the chances are that appoint one of their panel lawyers should you accept the "fee-free" deal. Contact the bank and see if they make available a monetary alternative. In the past a few mortgage companies offered a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor near Hornsey.
Will commercial conveyancing searches reveal proposed roadworks that may affect a commercial property in Hornsey?
Its becoming the norm that commercial conveyancing solicitors in Hornsey will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Hornsey. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Hornsey.
For every commercial conveyancing transaction in Hornsey it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can cause delays to Hornsey commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not carried out for residential conveyancing in Hornsey.
I'm purchasing my first flat in Hornsey benefiting from help to buy. The builders would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not to tell my solicitor about the extras as it will impact my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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 am looking for a conveyancing practitioner in Hornsey for my purchase. Is it possible to review a firm’s complaints history with the legal regulator?
You can find documented Solicitor Regulator Association (SRA) decisions resulting from investigations started on or after Jan 2008. Go to Check a solicitor's record. For details about the period before 1 January 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The SRA may monitor call for training requirements.