Am I correct in assuming that the fact that my solicitor in Wilford is not identified on my lender's solicitor panel that there is a problem with the standard of the firm’s work?
That would more than likely be an incorrect assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Wilford conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
In what way does my ID and proof of funds have anything to do with my conveyancing in Wilford? Why is this being asked of me?
Wilford conveyancing solicitors and indeed property practitioners accross the UK have a duty under money laundering regulations to verify the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and evidence of address (usually a Utility Bill no more than three months).
Evidence of the origin of funds is also required in accordance with the money laundering laws as lawyers are mandated to check that the funds you are utilising to buy a property (whether it be the deposit for exchange or the full purchase price where you are a cash purchaser) has come from an acceptable source (such as an inheritance) and is not the fruits of criminal activity.
A friend suggested that if I am purchasing in Wilford I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Wilford conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about Wilford around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Wilford Education with maps and statistics, Local Amenities and other useful data regarding Wilford.
How does conveyancing in Wilford differ for new build properties?
Most buyers of new build property in Wilford approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is constructed. This is because new home sellers in Wilford usually 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 conveyancing solicitors 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 accustomed to new build conveyancing in Wilford or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a house in Wilford prior to retaining lawyers. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some banks tend not grant a loan on this type of house.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. Should you wish to telephone us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Wilford. Conveyancing will be smoother if you use a solicitor in Wilford especially if they are accustomed to such properties in Wilford.
Hoping to buy a property located in Wilford and I am already nervous. I couldn't find anything specific about Wilford. Conveyancing will be needed in due course but do you know about the Wilford area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Wilford. In the meantime here are some basic statistics that we found