In what way does my ID and proof of funds have anything to do with my conveyancing in Lyddington? What am I being asked for?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Lyddington. Nowadays you can not complete any conveyancing transaction without first providing proof of your identity. This usually takes the form of a either your passport or driving licence and a council tax bill. Remember if you are providing your driving licence as proof of identification it must be both the paper element and photo card part, one is not satisfactory in the absence of the other.
Verification of your source of funds is required under Money Laundering Regulations. Don’t be offended when when this is requested of you as your lawyer must have this information on record. Your Lyddington conveyancing practitioner will require evidence of proof of funds before they are able to accept any monies from you into their client account and they should also ask further questions regarding the origin of funds.
I am purchasing a new build flat in Lyddington. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Lyddington you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Lyddington.
I note that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when purchasing a house in Lyddington? or Apparently there is historic law that means some house owners living in a parish church boundary may be liable to contribute towards repairs to the chancel within the church. Is this suitable for conveyancing in Lyddington?
Unless a previous purchase of the house took place post 12 October 2013 you can expect solicitors delivering conveyancing in Lyddington to continue to recommend a chancel search and or insurance against a claim.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what should have been a straight forward, chain free conveyancing. Lyddington is where the house is located. Is there any guidance you can give?
Flying freeholds in Lyddington are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lyddington you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lyddington may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My husband and I are new to the buying process - agreed a price, yet the agent advised that the seller will only issue a contract if we instruct their preferred solicitors as they want an ‘expedited deal’. My instinct tells me that we should use a local conveyancer used to conveyancing in Lyddington
It is unlikely the owners are behind this. If they want ‘a quick sale', taking such a hostile approach to a genuine buyer is is going to put the whole deal at risk. Contact the owners directly and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you do not need to sell (d) you wish to move quickly (e)but you are going to appoint your preferred Lyddington conveyancing solicitors - rather thanthose that will give their estate agent a commission or achieve conveyancing figures demanded by corporate headquarters.
My son is just in the process of moving home, the home loan was agreed last week in principle. One the offer was accepted on house we rang the mortgage company to move forward with his. I was shocked to learn that mortgage companies do not accept all solicitor, they must be on their panel, is this correct?
Lenders normally imposes restrictions either the type or the number of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Lyddington solicitor on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.