Me and my partner are soon to exchange on the purchase of a property in Leicester but as a result of wreckage from some water damage at the property I have managed to agree compensation from the current proprietors in the sum of three thousand pounds by way of a deduction in the price. This was going to be dealt with as part of a side agreement but Kent Reliance are not allowing this. Should they have been involved?
Any lawyer that is on a Kent Reliance conveyancing panel is obliged to inform Kent Reliance of any changes to the sale price. If you prohibit your conveyancing practitioner to disclose the price change to Kent Reliance then they would have to discontinue acting for you. In addition, Kent Reliance and you would have to appoint a new property lawyer for your conveyancing in Leicester.
In what way does my ID and proof of funds have anything to do with my conveyancing in Leicester? Is this really necessary?
In order to comply with Money Laundering Regulations any Leicester 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 live.
In accordance with Money Laundering Regulations, conveyancers are duty bound to validate not simply the ID of conveyancing clients but also the source of monies that they receive in respect of any matter. Refusal to disclose this will result in your solicitor ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to make a disclosure to the appropriate authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
We're in Leicester, First time buyers buying with a mortgage (lender is Co-operative , and our lawyer is on the Co-operative conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Co-operative conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Me and my brother purchased a renovated Victorian house in Leicester. Conveyancing solicitor acted for me and TSB. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold under the exact same address. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Leicester and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with your conveyancing lawyer who conducted the purchase.
We are 3 weeks into a freehold purchase having been referred to conveyancers by the local agent to perform conveyancing in Leicester. I am am extremely disappointed with the level of service. Can you help me find new lawyers?
A conveyancer would have to be very poor to suggest diss instructing them. Has your mortgage been sent? If so you need to make them aware of the new conveyancer and get the offer are re-issued. Your new conveyancer should be on the lenders panel to avoid escalating expenses and frustration. That should be your first question of the new conveyancers. The find a solicitor tool should help you find a lender approved conveyancer for your conveyancing in Leicester
Me and my partner are hoping to buy a three room maisonettein Leicester with a home loan from a mortgage company. We have selected a solicitor in Leicester yet our mortgage company advise he's not on their "panel". It seems we have little choice but to instruct from the our lender panel solicitors or keep our Leicester solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The bank mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender's conveyancing panel. Until recently, most mortgage companies had large numbers of law firms on their panels, including many conveyancing solicitors in Leicester : a mortgagee could choose 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 your mortgage company.