I am not in a position to travel far from Wollaston. What is the rationale as to why all Wollaston lawyers aren't included on all bank panels?
A decade ago most lenders exhibited an attitude to risk which differs from the current day. The FSA in 2010 instigated a thematic review into property fraud which concluded: know the lawyers on your panel. Consequently, mortgage companies have subsequently looked to extract more information from law firms regarding their processes and the staff employed by them and set certain criteria such as completing a minimum number of transactions. Thousands of firms have found themselves excluded from lender panels even though they had 100% healthy track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms found it impossible meet the minimum volume of transactions the mortgage companies insisted on.
In what way does my ID and proof of funds have anything to do with my conveyancing in Wollaston? Is this really necessary?
Wollaston conveyancing solicitors and indeed property lawyers accross the UK have an obligation under money laundering regulations to check the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients will need to produce two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and proof of address (typically a Bank Statement no more than three months).
Confirmation of the origin of funds is also necessary under the money laundering laws as conveyancers are duty bound to ensure that the money you are utilising to purchase a property (whether it be the deposit for exchange or the full purchase price where you are buying mortgage free) has come from an acceptable source (such as employment savings) as opposed to the product of illegitimate activity.
I need some quick conveyancing in Wollaston as I have a deadline to complete within 2 weeks. A mortgage is not required. Can I avoid the conveyancing searches to save fees and time?
As you are are a mortgage free purchaser you are at free not to do searches although no lawyer would recommend that you don't. Drawing on years of experience of conveyancing in Wollaston the following are examples of issues that can appear and therefore impact future saleability: Enforcement Actions, Outstanding Charges, Outstanding Grants, Road Schemes,...
Despite weeks of looking the Title Certificate and documents to my property are lost. The solicitors who conducted the conveyancing in Wollaston 4 years ago are no longer around. What do I do?
You no longer need to have the physical official documentation to establish that you are the registered proprietor of land or premises, given that the Land Registry have everything they need in a digital format.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Wollaston. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Wollaston
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. There must be mutual enforceability of lessee’s covenants. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I'm converting the mortgage on my primary house to a BTL loan with Virgin Money and I will use the rest of the raised equity towards further house. The area we are talking about is Wollaston. Will your solicitors be able to act for both sets of banks and link together the two deals?
Do use our comparison tool on this page to be sure that the lawyers are on the appropriate lender panels. Having checked that they are your conveyancer should be able to simultaneously deal with the two transactions but you should have a chat with you solicitor and communicate your desired outcome and needs.