Our Upminster Bridge solicitor has uncovered an inconsistency between the information in the home valuation report and what is revealed within the legal papers for the property. My lawyer has advised that he is obliged to ensure that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s approach legitimate?
Your solicitor must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
In what way does my ID and proof of funds have anything to do with my conveyancing in Upminster Bridge? What am I being asked for?
To satisfy the Money Laundering Regulations any Upminster Bridge conveyancing firm will require proof of identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility account showing your correct address.
Under Money Laundering Regulations, conveyancing solicitors are obliged by law to investigate not only the ID of conveyancing clients but also the origin of monies that they receive in respect of any matter. An unwillingness to disclose this may result in your conveyancer cancelling their relationship 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 notify the relevant authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
Forgive me if this question is silly but I am unseasoned as a 1st time buyer of a two bedroom flat in Upminster Bridge. Do I collect the keys to the property on completion from my lawyer? If this is the case, I will instruct a High Street conveyancing solicitor in Upminster Bridge?
On the day of completion you do not need to go to the conveyancers office in Upminster Bridge. Your solicitors will arrange to send the completion advance to the seller's solicitors, and once they have received this, you should be able to receive the keys from the selling Agents and start moving into the property. Usually this happens between 1 and 3pm.
Can I be sure that the Upminster Bridge conveyancing solicitor on the Aldermore panel is any good?
When it comes to conveyancing in Upminster Bridge getting recommendations is a sensible 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 advocate that you speak with the lawyer handling your conveyancing.
Intending to buy a apartment in Upminster Bridge. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Principality 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 Upminster Bridge lawyer is on the Principality conveyancing panel.
I used Stirling Law several years past for my conveyancing in Upminster Bridge. Now, I need the files but the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Upminster Bridge of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Upminster Bridge is where the house is located. Is there any guidance you can impart?
Flying freeholds in Upminster Bridge are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Upminster Bridge 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 Upminster Bridge 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.
My partner and I about to exchange buying a property in Upminster Bridge but as a result of wreckage from the recent storms I have agreed reparation from the seller of £2k taking the form of a adjustment in the price. I had intended this to be dealt with as part of the conveyancing process but my mortgage company will not permit this. Should they have been approached?
The lawyer listed on the bank conveyancing panel is required to inform the bank of any changes to the sale figure. In the event that you did not allow your solicitor to notify the reduction to your bank then they would have no choice but to refrain from representing you and the mortgage company.