My wife and I are looking to purchase a property in Prudhoe and have instructed a Prudhoe conveyancing firm. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Nottingham Building Society have this evening contacted us to inform me that there is now an issue as our Prudhoe conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Prudhoe lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
My fiancee and I are acquiring our first house. The property lawyer has calledto ask if we wish to order supplemental conveyancing searches. Unfortunately we have no idea as to what's needed for conveyancing in Prudhoe
The scope of Prudhoe conveyancing searches depends primarily on the premises, the location, the possibility of any of these risks, your knowledge of the region and risks, your general attitude to risk. What matters is that you adequately appreciate what information each search could give you. Then you can decide if you personally think you need that information. Should you be uncertain, ask your conveyancing practitioner to explain.
What does my ID and proof of funds have anything to do with my conveyancing in Prudhoe? Is this really warranted?
To satisfy the Money Laundering Regulations any Prudhoe conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility account showing your correct address.
In accordance with Money Laundering Regulations, conveyancing solicitors are obliged by law to validate not simply the identity of conveyancing clients but also the origin of monies that they receive in respect of any matter. Refusal to disclose this may result in your solicitor cancelling 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 notify the appropriate authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a simple, no chain conveyancing. Prudhoe is where the house is located. Is there any advice you can impart?
Flying freeholds in Prudhoe are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Prudhoe you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Prudhoe may determine 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.
Are there any apps to help locate a Prudhoe solicitor on the TSB conveyancing panel? I have wheels and am willing to travel upto 20miles to meet the solicitor.
Feel free to make use of the search on this page. Please pick a lender and your location and you will see a number of Prudhoe conveyancing lawyers located nearest you. We have detailed some Prudhoe conveyancing firms at the bottom of this page and you can contact them to check whether they are on the TSB approved list
I need to retain a conveyancing solicitor for sale conveyancing in Prudhoe. I have discover a site which looks to be the ideal answer If it is possible to get all formalities done via phone 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?