In what way does my ID and proof of funds have anything to do with my conveyancing in Shildon? Why is this being asked of me?
Shildon conveyancing solicitors as well as nationwide property practitioners throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to check the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and proof of address (typically a Bank Statement less than 3 months old).
Proof of the origin of funds is also necessary in compliance with the money laundering regulations as lawyers are mandated to check that the money you are using to buy a property (whether it be the deposit for exchange or the total purchase monies if you are a cash purchaser) has come from an acceptable source (such as an inheritance) rather than the fruits of criminal behaviour.
I am buying a semi-detached house in Shildon. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Shildon you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Shildon.
Can you point me to a directory of Clydesdale panel conveyancers in Shildon on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lenders make their panel listings available on the web. Where you are looking for a Shildon conveyancing practitioner on the Clydesdale please use our facility.
Intending to buy a flat in Shildon. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society 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 Shildon property lawyer is on the Virgin Money conveyancing panel.
Leeds Building Society have agreed my home loan in principle, my bid on a house in Shildon has been accepted, what are the next steps?
Your estate agent will want to be informed of your conveyancing practitioner's details (ensure that the property lawyers are on the bank’s approved list). Telephone Leeds Building Society or your broker and finish off any appropriate forms. Leeds Building Society will sellect a valuer who will get in touch with the selling agent or seller to schedule a slot for the valuation to occur. Once carried out (assuming no problems) it takes on average ten days for the mortgage offer to be issued. Leeds Building Society will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Shildon.
I am buying a new build flat in Shildon. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Shildon
-
The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Forfeiture - bankruptcy or liquidation must not apply under this provision. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Do I need to be wary by estate agents that I am dealing with are recommending a web based conveyancing firm as opposed to a local Shildon conveyancing company?
As with lots of professional services, often suggestions from connections can be worth their weight in gold. Nevertheless there are many parties with a keen interest in a conveyancing deal; estate agents, financial adviser and banks might all put forward lawyers to select. On occasion the solicitors might be known to one of the organisations as one of the best in their field, but sometimes there may be a commercial relationship behind the recommendation. You have the right to choose your preferred conveyancer. Don't forget that the majority of lenders specify a panel list of conveyancers you have to use for the mortgage related work in your conveyancing.
A conveyancing company acted on my conveyancing in Shildon half a dozen years ago and was holding my title documents but has now closed – What steps do I now take to get hold of these?
Deeds, as such, no longer exist as most homes in Shildon are archived digitally at Land Registry. Where you need to prove evidence of proprietorship or are selling or re-mortgaging your conveyancing practitioner can obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to filerequest@clc-uk.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned as quickly as possible.