What does my ID and proof of funds have anything to do with my conveyancing in Sleaford? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Sleaford 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 bill evidencing your correct address.
Under Money Laundering Regulations, property lawyers are obliged by law to validate not only the ID of conveyancing clients but also the origin of the money 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 conveyancers will have an obligation to inform the relevant authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
This question may be naive but I am new to the home moving as FTB of a garden flat in Sleaford. Do I pick up the keys to the house on the completion date from my lawyer? If this is the case, I will instruct a local conveyancing solicitor in Sleaford?
On the day of completion you do not need to attend the conveyancers office in Sleaford. Your solicitors will transfer the purchase money to the owner’s conveyancers, and shortly after the monies have arrived, you will be able to collect the keys from the selling Agents and start moving into the property. This tends to happen between 1 and 3pm.
Completion of my purchase has taken place for my property in Sleaford. Conveyancing was a necessary evil but I would like to complain about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Co-operative have agreed my mortgage in principle, my bid on a apartment in Sleaford has been accepted, what happens next?
Your property agent will want to know who your solicitors are (ensure that the lawyers are on the lender’s panel). Call up Co-operative or the broker and finish off any appropriate forms. Co-operative will instruct a valuer who will get in contact with the estate agent or owners to arrange a time for the valuation to happen. Once conducted (assuming no problems) it takes approximately a week to get a mortgage offer. Co-operative will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Sleaford.
Despite weeks of looking the Title Certificate and documents to our house are lost. The lawyers who handled the conveyancing in Sleaford 4 years ago have long since closed. What are my options?
Gone are the days when you need to hold title deeds to evidence that you are the registered proprietor of land or property, given that the Land Registry have everything they need in a digital format.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Sleaford is where the house is located. Is there any guidance you can give?
Flying freeholds in Sleaford are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Sleaford you must be sure that your lawyer goes 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 Sleaford 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 residence.
Should I be suspicious that estate agents that I am dealing with are recommending a nationwide conveyancing firm as opposed to a local Sleaford conveyancing firm?
As with many professional services, often referrals from family and friends can be most helpful. Yet there are numerous parties with a keen interest in a conveyancing deal; estate agents, mortgage brokers and mortgage companies might all recommend lawyers to appoint. On occasion these lawyers might be known to one of the organisations as one of the best in their field, but sometimes there exists a commercial relationship behind the endorsement. You are at liberty to appoint your preferred conveyancer. However, bear in mind that many banks specify a panel list of law firms you must use for the mortgage aspect of your transaction.
I have chosen a Sleaford conveyancing solicitor for our home move (FTB’s) and have picked up in the engagement letter that they are not covered by the FCA. Should I be concerned or is that standard with property lawyer?
We can't see why they should be. Most conveyancer don't lend money. You should check that they are regulated by the Solicitors Regulation Authority, who set specific obligations regulating amounts held on client account.