Am I correct in assuming that the fact that my conveyancer in Mosborough is not listed on my lender's conveyancing panel that there is a problem with the standard of her work?
That would most likely be a wrong assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer 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 contact the Mosborough conveyancing practice and ask them why they are no longer on the approved list for your bank.
In what way does my ID and proof of funds have anything to do with my conveyancing in Mosborough? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Mosborough conveyancing firm will require proof of identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility bill evidencing where you live.
Under Money Laundering Regulations, property lawyers are required to check not just the ID of conveyancing clients but also the origin of fund that they receive in respect of any matter. Refusal to disclose this will result in your lawyer ending their retainer 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 make a disclosure to the relevant authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
My fiancee and I are in the process of looking at flats in Mosborough and I am now considering a potential offer. Is it best to have a conveyancer on ‘stand by’? I intend to finance via a mortgage with Virgin Money.
It would be prudent to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. Given that you are taking out a mortgage with Virgin Money, ask your prospective lawyers if they are on the Virgin Money conveyancing panel otherwise they can't do the mortgage legal work.
Intending to buy a house in Mosborough. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money 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 Mosborough lawyer is on the Virgin Money conveyancing panel.
Bank of Ireland have agreed my home loan in principle, my offer on a flat in Mosborough has been agreed to, what are the next steps?
Your estate agent will need to know who your solicitors are (make sure the lawyers are on the bank’s approved list). Contact Bank of Ireland or your broker and finish off any appropriate paperwork. Bank of Ireland will sellect a valuer who will get in touch with the selling agent or vendor to arrange a slot for the valuation to occur. Once carried out (assuming no problems) it takes on average a week for the mortgage offer to be issued. Bank of Ireland will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Mosborough.
The estate agent has sent us the confirmation of our purchase of a new build flat in Mosborough. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Mosborough
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There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Mosborough is where the house is located. What do you suggest?
Flying freeholds in Mosborough are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Mosborough you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mosborough may decide 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 property.
I am four weeks into a residential purchase having been referred to a firm by the selling agent to handle our conveyancing in Mosborough. We are not happy. Can you you assist me in finding new solicitors?
A conveyancer would have to be really poor in order to consider diss instructing them. Has your mortgage been issued? If so you need to inform them of the new solicitor and get the loan are re-sent. The solicitor ideally should be on the banks panel to avoid supplemental fees and delays. That should be your starting point. The find a solicitor tool should help you find a bank approved solicitor for your home move in Mosborough