I plan on acquiring a ground floor flat in Thames View. My Solicitor is not listed on the mortgage company solicitor panel. Can I still use my Thames View conveyancing solicitor even though they are excluded from the bank list of approved lawyers?
Your options include
- Carry on with your chosen Thames View conveyancing practitioner but your bank will undoubtedly instruct a property lawyer on their conveyancing panel. The net result is additional cost and probable interruption.
- Choose a new conveyancer to act in the purchase, obviously checking they are on the mortgage company conveyancing panel.
- Convince your property lawyer to pull out all the stops to get listed on the bank’s conveyancing panel
I require conveyancing for an apartment in a fairly new development (6 years old) in Thames View. Almost all the flats have already been sold. Do I need carry out the local searches as part of conveyancing in Thames View?
Conveyancing Searches are a central link in the Thames View conveyancing process. There are numerous companies who offer Thames View conveyancing searches, as well straight from the local authority. These are known collectively as personal search providers due to them carrying out, personal searches. However, all Local Authority Search conveyancing products have one thing in common - they must obtain their information from the local authority.
What does my ID and proof of funds have anything to do with my conveyancing in Thames View? Is this really warranted?
Thames View conveyancing solicitors as well as nationwide property practitioners throughout the UK have a duty under Anti-terror and anti-money-laundering rules to verify the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to supply two forms of certified identification; proof of ID (usually a Passport or Driving Licence) and proof of address (typically a Bank Statement no more than three months).
Evidence of the origin of funds is also required in accordance with the money laundering laws as solicitors are required to ensure that the funds you are using to acquire a property (whether it be the deposit for exchange or the full purchase monies where you are a cash purchaser) has originated from an acceptable source (such as an inheritance) and is not the product of illegitimate behaviour.
Should my solicitor be asking questions concerning flooding as part of the conveyancing in Thames View.
Flooding is a growing risk for conveyancers carrying out conveyancing in Thames View. Some people will buy a property in Thames View, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, however there are a number of searches that may be carried out by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Thames View. The conventional set of information supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a standard inquiry of the seller to discover whether the property has historically flooded. In the event that flooding has previously occurred which is not disclosed by the seller, then a buyer may bring a legal claim for losses resulting from an misleading response. A purchaser’s conveyancers may also carry out an environmental report. This will reveal whether there is a recorded flood risk. If so, additional inquiries should be made.
I'm purchasing a new build house in Thames View benefiting from help to buy. The developers would not reduce the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep suggested that I not inform my solicitor about the extras as it could jeopardize my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Am I better off to use a Thames View conveyancing solicitor based in the vicinity that I am purchasing? We have a good friend who can conduct the legal work however his firm is located 400kilometers drive away.
The primary upside of using a high street Thames View conveyancing firm is that you can drop in to execute paperwork, present your identification documents and pester them if necessary. They will also have local knowledge which is a plus. However it's more important to get someone that will pull out all the stops for you. If you know people who instructed your friend and in the main were happy that should trump using an unfamiliar Thames View conveyancing lawyer just because they are local.