What does my ID and proof of funds have anything to do with my conveyancing in Petts Wood? Is this really warranted?
Petts Wood conveyancing solicitors and indeed property practitioners throughout the UK have an obligation under money laundering regulations to verify the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to supply two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and evidence of address (usually a Bank Statement no more than three months).
Evidence of the origin of funds is also required under the money laundering statutes as lawyers have a duty to check that the funds you are utilising to buy a property (be it the exchange deposit or the full purchase amount where you are buying mortgage free) has come from legitimate source (such as an inheritance) as opposed to the product of illegitimate activity.
Can you clarify what the consequences are if my solicitor is suspended from the Bank of Ireland Conveyancing panel ahead of completing my conveyancing in Petts Wood?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I need some quick conveyancing in Petts Wood as I am faced with pressure to complete in less than 4 weeks. Thankfully I do not need a mortgage. Can I escape the need for conveyancing searches to save fees and time?
If.Given you are are a cash purchaser you have the choice not to have searches carried out although no conveyancer would suggest that you don't. With lots of history conveyancing in Petts Wood the following are instances of what can be revealed and adversely affect market value: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Railway Schemes,...
I opted to have a survey done on a house in Petts Wood in advance of retaining lawyers. I have been informed that there is a flying freehold aspect to the property. The surveyor advised that some lenders will not grant a loan on a flying freehold property.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. If you e-mail us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Petts Wood. Conveyancing may be slightly more expensive based on your lender's requirements.
As co-executor for the will of my grandfather I am selling a residence in Monmouth but live in Petts Wood. My conveyancer (approximately 300 kilometers awayneeds me to execute a statutory declaration before the transaction finalising. Can you recommend a conveyancing practitioner in Petts Wood to witness and place their company stamp on the document?
Technically speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are located in Petts Wood
Been reading online that Petts Wood solicitors are more costly than licensed conveyancers in Petts Wood when it comes to purchasing a property. Am I better off using a conveyancer or a solicitor where I am purchasing for my home move in Petts Wood.
When it comes to conveyancing in Petts Wood the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.