I can't travel far from St Clears. Please clarify why all St Clears property lawyers are not on all bank panels?
Lenders ordinarily restrict either the type or the number of conveyancing solicitors on their approved list of lawyers. A common example of such restriction(s) being that a practice needs to have at least two partners. In addition to restricting the nature of firm, some building societies decided to restrict the size of their panel they permit to represent them. You should note that banks have no accountability for the quality of advice supplied by any St Clears solicitor on their panel. Mortgage fraud was the primary trigger for the rationalisation of solicitor panels in the last decade notwithstanding that there are conflicting thoughts concerning the extent of solicitor involvement in some of that fraud. Data from HMLR reveal that thousands of law practices only transact less than three conveyances a year. Those advocating conveyancing panel consolidation question why law firms deserve the right to be listed on a bank panel when it is apparent that conveyancing is not their primary expertise?
What does my ID and proof of funds have anything to do with my conveyancing in St Clears? Why is this being asked of me?
It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in St Clears. Nowadays you can not complete any conveyancing transaction if you have not submitting proof of your identity. This usually takes the form of a either your passport or driving licence and a bank statement. Remember if you are supplying your driving licence as evidence of ID it must be both the paper section as well as the photo card part, one is not acceptable in the absence of the other.
Verification of the origin of money is necessary in accordance with the Money Laundering Regulations. You should not be offended when when this is requested of you as your lawyer will need to have this information on file. Your St Clears conveyancing practitioner will need to see evidence of proof of funds before they are able to accept any money from you into their client account and they may also ask further questions regarding the source of funds.
When it comes to mortgage companies such as Virgin Money, do St Clears property lawyers incur an annual charge to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
How can we tell if a St Clears conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in St Clears obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer carrying out your transaction.
We were going to get a OIP from Santander this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Santander recommend any St Clears solicitors on the Santander conveyancing panel, or is it better to find our own lawyer?
You will need to appoint St Clears solicitors independently although you'll need to choose one on the Santander conveyancing panel. The solicitor represents both you and Santander through the process.
three months have elapsed following my purchase conveyancing in St Clears concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in St Clears differ for newly converted properties?
Most buyers of new build residence in St Clears come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is built. This is because house builders in St Clears typically acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in St Clears or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a quick, chain free conveyancing. St Clears is the location of the property. Can you shed any light on this issue?
Flying freeholds in St Clears are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in St Clears 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 St Clears 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 property.