I can't travel far from Woburn Sands. Can you please explain the reason why all Woburn Sands conveyancing practitioners are not on all mortgage company panels?
Even though it may seem unfair for banks to limit who can represent them, from the public’s or conveyancer’s viewpoint, the other side of the coin is that banks are becoming ever more anxious and feel it imperative to protect them against illegal activities. As a result of this concern lenders have consolidated their conveyancing panel to a manageable size.
In what way does my ID and proof of funds have anything to do with my conveyancing in Woburn Sands? What am I being asked for?
It is indeed that case that these requests have nothing to do with conveyancing in Woburn Sands. Nowadays you can not complete any conveyancing transaction without first submitting evidence of your identity. This usually takes the form of a either your passport or driving licence and a bank statement. Please note that if you are providing your driving licence as proof of identification it must be both the paper element and photo card part, one is not sufficient without the other.
Verification of the origin of funds is required in accordance with the Money Laundering Regulations. Don’t be offended when you are asked to produce this as your conveyancer must retain this information on file. Your Woburn Sands conveyancing lawyer will need to see evidence of proof of funds before they are able to accept any monies from you into their client account and they may also ask additional queries concerning the origin of monies.
I am the sole recipient of my late grandmother’s estate and I have everything in my name alone, including the house in Woburn Sands. The Woburn Sands property was put into my name in January. I plan to dispose of the house. I do know about the Mortgage Lenders 6 month 'rule', meaning my proprietorship will be treated the same way as if I'd bought the house in January. Do I have to wait 6 months to sell?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. Some mortgage companies would take a pragmatic view as this clause primarily exists to capture the purchase and immediately sell or the wholesaling and assigning of properties.
Is it the case that all Woburn Sands solicitors on the Kent Reliance conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Kent Reliance approved list of solicitors they would need to be regulated by the SRA. Some banks do list licenced conveyancers on their panel and in that case the organisation would be governed by the Council of Licensed Conveyancers.
It is not clear whether my lender requires a lease extension. I have telephoned my Woburn Sands bank branch on numerous occasions and was told they are content with the situation and they would lend. My Woburn Sands conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend based on their specific requirements. I simply don't know who is right.
As long as the property lawyer is on the lender approved list, they must comply with the Council of Mortgage Lenders’ Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I decided to have a survey carried out on a house in Woburn Sands before instructing solicitors. I have been informed that there is a flying freehold overhang to the house. My surveyor has said that some lenders tend refuse to give a loan on such a property.
It varies from the lender to lender. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to call us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Woburn Sands. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Woburn Sands to see if the conveyancing costs will increase in light of this.
How can the Landlord & Tenant Act 1954 affect my commercial offices in Woburn Sands and how can your lawyers assist?
The particular law that you refer to provides protection to business tenants, giving them the dueness to apply to court for a renewal lease and continue in occupation at the end of an expired lease. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act for protection and assist with commercial conveyancing in Woburn Sands
My cousin has suggested that I use his conveyancers in Woburn Sands. Do I follow his guidance?
No doubt the ideal way to select a conveyancing lawyer is to get feedback from friends or relatives who have actually experience in using the firm you're contemplating using.