My conveyancer has discovered a a problem with the lease for the property we are buying in Ongar. The seller’s lawyers have suggested defective title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor has advised that he must be satisfied that the mortgage company is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
Even though you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the lender are the client. The appropriate lender specifications have to be complied with.
In what way does my ID and proof of funds have anything to do with my conveyancing in Ongar? What am I being asked for?
In order to comply with Money Laundering Regulations any Ongar conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility bill showing where you live.
Under Money Laundering Regulations, conveyancing solicitors are obliged by law to check not simply the ID of conveyancing clients but also the origin of monies that they receive in respect of any matter. Refusal to disclose this will result in your conveyancer 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 appropriate authorities should they believe that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
Last month we had a mortgage agreed in principle with Barclays. Ongar conveyancing solicitors have been appointed. How long does it take for Barclays to issue the offer to the property lawyer?
There is no definitive answer here. Have Barclays conducted the survey? Have you informed Barclays as to your lawyers' details and checked that your lawyers are on the Barclays conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
It is unclear whether my mortgage offer requires a lease extension. I have called my Ongar building society branch on a couple of occasions and was advised it wasn't a problem and they would lend. My Ongar conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend in accordance with their specific requirements. I simply don't know who is right.
As long as the solicitor is on the bank panel, they must follow the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am due to exchange contracts on my flat. I had a double glazing fitted in October 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Skipton are being a right pain. The Ongar solicitor who is on the Skipton conveyancing panel is recommending indemnity insurance as a solution but Skipton are insisting on a building regulation certificate. Why do Skipton have a conveyancing panel if they don't accept advice from them?
It is probably the case that Skipton have referred the matter to their valuer. The reason why Skipton 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.
Should commercial conveyancing searches reveal planned roadworks that may affect a commercial land in Ongar?
Its becoming the norm that commercial conveyancing solicitors in Ongar will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Ongar. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Ongar.
For each commercial conveyancing transaction in Ongar it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may result in delays to Ongar commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Ongar.
I need to find a conveyancing solicitor for residential conveyancing in Ongar. I happened to land on a web site which appears to be the perfect answer If there is a chance to get all formalities done via email that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Do I have to visit the offices of the bank conveyancing panel solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Ongar as it will be easier to attend their offices if required.
Whereas this was necessary ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Ongar.