Is the fact that my solicitor in Lifton is not identified on my bank's solicitor panel that there is a problem with the standard of his conveyancing?
That is most likely an incorrect assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Lifton conveyancing practice and enquire why they are no longer on the approved list for your bank.
What does my ID and proof of funds have anything to do with my conveyancing in Lifton? Why is this being asked of me?
It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Lifton. Nowadays you will not be able to complete any conveyancing transaction without first supplying proof of your identity. This usually takes the form of a either your passport or driving licence as well as a council tax bill. Please note that if you are supplying your driving licence as evidence of ID it needs to be both the paper part and photo card part, one is not satisfactory in the absence of the other.
Verification of the origin of funds is required in accordance with the Money Laundering Regulations. Don’t be offended when you are asked to produce this as your conveyancer must have this information on record. Your Lifton conveyancing lawyer will require evidence of proof of funds prior to accepting any monies from you into their client account and they will also ask additional queries concerning the origin of funds.
We are purchasing a house in Lifton. I might seem paranoid but how we can trust a conveyancer? On the day of competition we will need to deposit money into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Have just purchased a probate house at auction in Lifton. Conveyancing is needed. What is next?
Having for in every practical sense signed on the dotted line you will need to appoint a conveyancing solicitor quickly as you now have a pending a fixed date to complete the property. All auction property will have a corresponding legal set of papers. This will likely include evidence of title and search results. Where you are dealing with leasehold property the conveyancing papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to leasehold premises. You should pass this on to the conveyancer working for you ASAP. Do make sure that you have funds organised to complete the transaction on the set completion date.
I am due to exchange contracts on my house. I had a double glazing fitted in October 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Kent Reliance are being difficult. The Lifton solicitor who is on the Kent Reliance conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Kent Reliance are insisting on a building regulation certificate. Why do Kent Reliance have a conveyancing panel if they don't accept advice from them?
It is probably the case that Kent Reliance have referred the matter to their valuer. The reason why Kent Reliance may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Are there restrictive covenants that are commonly identified during conveyancing in Lifton?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Lifton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Lifton differ for newly converted properties?
Most buyers of new build or newly converted property in Lifton contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because house builders in Lifton usually buy the land, 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 conveyancing solicitors 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 Lifton or who has acted in the same development.
Am I right to be wary that estate agents that I am dealing with are suggesting a factory type conveyancing firm rather than a High Street Lifton conveyancing company?
As with lots of service providers, often input from connections can be very helpful. Nevertheless there are many people with a keen interest in a conveyancing deal; estate agents, financial adviser and banks might all put forward lawyers to use. Sometimes the lawyers might be known to one of the organisations as being good in their field, but occasionally there is an underlying commercial relationship behind the endorsement. You have the right to select your preferred lawyer. However, bear in mind that the majority of lenders specify a panel list of solicitors you are obliged to use for the mortgage related work in your transaction.