In what way does my ID and proof of funds have anything to do with my conveyancing in Mitcham? What am I being asked for?
Mitcham conveyancing solicitors and indeed property practitioners throughout the UK have an obligation under money laundering regulations to check the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to produce two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and proof of address (usually a Bank Statement less than 3 months old).
Confirmation of the origin of funds is also necessary under the money laundering statutes as conveyancers are mandated to check that the funds you are using to acquire a property (be it the exchange deposit or the full purchase monies if you are a cash purchaser) has come from a reputable source (such as an inheritance) and is not the fruits of criminal behaviour.
Our bank has suggested a law firm on their panel based in Mitcham but I would rather use a conveyancing lawyer in Mitcham or nearer to where I live. Can you help?
Far from all Mitcham conveyancing firms are listed all banks conveyancing panel. Use our find an approved solicitor tool to choose a Mitcham conveyancing firm on the on the mortgage company panel.
Various online forums that I have visited warn that are a common reason for hinderance in Mitcham house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays in the conveyancing process. Local searches are not likely to be the root cause of delay in conveyancing in Mitcham.
Despite weeks of looking the Title Certificate and documents to my home can not be found. The solicitors who dealt with the conveyancing in Mitcham 10 years ago have long since closed. What do I do?
As long as the title is registered the information relating to your proprietorship will be held by HMLR with a Title Number. It is easy to perform a search at the Land Registry, locate your house and get up to date copies of the Registered Entries for less than a fiver. Where the property is Leasehold then the Land Registry will in most cases retain a file copy of the Registered Lease and again, a copy can be ordered for £20 inclusive of VAT.
I am buying my first flat in Mitcham with the aid of help to buy. The developers refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The property agent suggested that I not to tell my solicitor about this deal as it will jeopardize my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Am I right to be concerned that estate agents that I am dealing with are recommending a web based conveyancing firm as opposed to a local Mitcham conveyancing firm?
As with lots of service providers, often input from connections can be extremely useful or valuable. But there are numerous people with a vested interest in a conveyancing matter; estate agents, financial adviser and banks may put forward lawyers to select. On occasion the lawyers might be known to one of the organisations as experts in their field, but sometimes there may be a financial incentive behind the endorsement. You have the discretion to select your own lawyer. Don't forget that most banks specify a panel list of solicitors you have to use for the lender aspect of your house move.