What does my ID and proof of funds have anything to do with my conveyancing in Kidderminster? Why is this being asked of me?
Kidderminster conveyancing solicitors as well as nationwide property practitioners accross the UK have an obligation under money laundering regulations to verify the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to disclose two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and proof of address (usually a Bank Statement no older than three months).
Evidence of source of funds is also necessary in accordance with the money laundering statutes as solicitors are required to investigate that the funds you are utilising to buy a property (be it the exchange deposit or the total purchase price where you are buying mortgage free) has originated from a reputable source (such as employment savings) as opposed to the fruits of criminal activity.
The Kidderminster conveyancing solicitors that just started acting on my house acquisition in Kidderminster have without warning shut down. They were on acting for me because I needed a solicitor on the RBS conveyancing panel and my previous Kidderminster lawyer was not. I paid them money in advance. What do I do now?
If you have an estate agent involved then let them know immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the RBS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
How does conveyancing in Kidderminster differ for newly converted properties?
Most buyers of new build or newly converted property in Kidderminster contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in Kidderminster tend to acquire the site, 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 Kidderminster or who has acted in the same development.
I am looking for a ground for flat up to £235,500 and identified one round the corner in Kidderminster I like with open areas and railway links nearby, however it only has 51 remaining years left on the lease. There is not much else in Kidderminster suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
How do I locate a Kidderminster law firm on the Clydesdale conveyancing panel? I have a car and am willing to travel upto 25kilometers to meet the lawyer.
Feel free to make use of the facility on this website. Please choose the lender and your location and you will see a number of Kidderminster conveyancing lawyers locally. We have detailed some Kidderminster conveyancing firms at the bottom of this page and you can ring them to verify whether they are on the Clydesdale panel
What tools are available to find a Kidderminster conveyancing solicitor on the lender conveyancing panel? I have a car and am prepared to travel up to 10kilometers to attend the solicitor.
You can use the find a conveyancing panel search on this page. Please choose the lender and your location, in this case Kidderminster and you will see a number of lawyer located nearest Kidderminster. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the bank solicitor panel.