What does my ID and proof of funds have anything to do with my conveyancing in Lewisham? What am I being asked for?
To satisfy the Money Laundering Regulations any Lewisham conveyancing firm will require proof of identity in all conveyancing transactions. This is usually dealt with by provision of a passport and an original bank statement or utility bill showing your correct address.
In accordance with Money Laundering Regulations, property lawyers are required to investigate not only the ID of conveyancing clients but also the origin of the money that they receive in respect of any matter. An unwillingness to disclose this may lead to your lawyer cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to notify the relevant authorities should they consider that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
Is it the case that all Lewisham solicitor practices on the Coventry BS conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Coventry BS conveyancing panel they would need to be regulated by the SRA. Many mortgage companies do permit licenced conveyancers on their panel in which case such organisation would be regulated by the Council of Licensed Conveyancers.
Intending to buy a flat in Lewisham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Leeds Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Lewisham conveyancing practitioner is on the Leeds Building Society conveyancing panel.
Having digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Lewisham solicitor - who is on the Coventry BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Lewisham surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
My wife and I purchased a renovated Georgian house in Lewisham. Conveyancing practitioner acted for me and Halifax. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register for 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 Lewisham 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 mortgage companies. You can also check the situation with your conveyancing solicitor who completed the work.
I'm buying a new build house in Lewisham benefiting from help to buy. The developers refused to budge the price so I negotiated 6k of additionals instead. The estate agent advised me not reveal to my conveyancer about this deal as it will adversely affect my loan with the bank. 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.
Due to the advice of my in-laws I had a survey completed on a property in Lewisham before appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies may refuse to grant a mortgage on such a house.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. If you call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Lewisham. Conveyancing may be slightly more expensive based on your lender's requirements.
I have been sourcing a conveyancing solicitor in Lewisham for my purchase. Is it possible to check a solicitor's complaints history with the profession’s regulator?
You can review presented Solicitor Regulator Association (SRA) determinations arising from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find records about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The regulator may monitor call for training purposes.