What does my ID and proof of funds have anything to do with my conveyancing in Swansea? What am I being asked for?
Swansea conveyancing solicitors as well as nationwide property practitioners throughout the UK have a duty under Anti-terror and anti-money-laundering rules to check the identity of any client with a view to ensure that clients are who they say they are.
Conveyancing clients are required to disclose two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and proof of address (usually a Utility Bill no older than three months).
Confirmation of source of monies is also required in compliance with the money laundering statutes as conveyancers are obliged to check that the monies you are using to acquire a property (whether it be the deposit for exchange or the full purchase monies where you are buying without a mortgage) has come from legitimate source (such as employment savings) and is not the fruits of criminal activity.
I'm the sole recipient of my late grandmother’s estate with all property in now in my sole name, including the house in Swansea. Conveyancing formalities meant that the Land Registry date was in January. I want to move. I understand that there is a CML 6 month 'rule', which means that my proprietorship will be regarded the same way as if I'd bought the house in January. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. Most lenders would take a sensible view as this obligation is primarily there to capture subsales or the wholesaling and assigning of properties.
Can I be sure that the Swansea conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in Swansea getting recommendations is a good starting point. 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 advertising the lowest fees. We would always suggest that you speak with the solicitor handling your conveyancing.
I was told four weeks ago that my mortgage has been agreed to by Nottingham. Is it usual for Nottingham to only issue the offer once my solicitor in Swansea is approved on their conveyancing panel? Nottingham have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nottingham to deal with your lawyer's application to be on the Nottingham conveyancing panel. There's no guarantee that your solicitor will be accepted.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a quick, chain free conveyancing. Swansea is the location of the property. Can you shed any light on this issue?
Flying freeholds in Swansea are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Swansea you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Swansea 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.
Am I right to be wary by 3rd parties that I am dealing with are encouraging me to use a national conveyancing firm as opposed to a High Street Swansea conveyancing practice?
As is the case with lots of professional services, often recommendations from family and friends can be extremely useful or valuable. Nevertheless there are many people with a keen interest in a conveyancing transaction; estate agents, financial adviser and lenders might all suggest solicitors to select. Sometimes the solicitors might be known to one of the organisations as experts in their field, but sometimes there may be a financial incentive behind the recommendation. You are free to choose your own conveyancer. However, bear in mind that the majority of mortgage providers operate an approved list of lawyers you must use for the mortgage aspect of your house move.
We are 17 days into a freehold purchase having been recommend to conveyancers by the selling agent to carry out the conveyancing in Swansea. I am am extremely dissatisfied with the quality of service. Could you you assist me in finding new conveyancers?
They would need to be really bad in order to consider changing them. Has the mortgage been sent? In the event that it has you must advise them of the replacement lawyer and get the mortgage documents are re-sent. The solicitor ideally needs to be on the banks panel to avoid escalating charges and delays. So that should be your first question of the new conveyancers. The search tool will help you find a bank approved conveyancer for your home move in Swansea
I pay a service charge for my appartment in Swansea. As a result of personal circumstances I slipped behind with payments. I negotiated a clearance plan but there is still a couple of currently due.
I want to dispose of the property and I am panicking this could hold me back if I have to settle the amount due in advance. Do I have to settle before - is this viable?
Do speak with the lawyer dealing with your Swansea conveyancing but it may be possible to arrange for the debt to be passed to the buyers. The purchase price due would be reduced to reflect the amount of debt they take on. They could then pay the arrears once they are the owners.