In what way does my ID and proof of funds have anything to do with my conveyancing in Woodlands? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Woodlands conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility account showing where you live.
Under Money Laundering Regulations, conveyancing solicitors are required to ascertain not only the identity of conveyancing clients but also the origin of monies that they receive in respect of any matter. Refusal to disclose this may lead to your conveyancer ending their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to make a disclosure to the appropriate authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
We're in Woodlands, First timers purchasing with a mortgage (lender is Skipton , and our lawyer is on the Skipton conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Skipton conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
If you had a top tip for selecting a conveyancing solicitor in Woodlands what would it be?
Do not opt for the cheapest Woodlands conveyancing quote. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
Can you help - my lawyer advises that lack of right of way insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Woodlands?
The right level of lack of right of way indemnity insurance should be dictated by who who your lender is. It would differ for example between Lloyds TSB Bank and Chelsea Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
I recently had an offer agreed on an apartment in Woodlands. My mortgage broker recommended their conveyancers. I paid an upfront payment of £200. A few days later, the lawyer called me embarrassingly acknowledging that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I need some quick conveyancing in Woodlands as I have an ultimatum to complete in less than one month. Luckily I do not require a mortgage. Can I decline from having conveyancing searches to save fees and time?
As you are not getting a mortgage you have the choice not to do searches although no law firm would suggest that you don't. Drawing on our experience of conveyancing in Woodlands the following are instances of what can arise and therefore impact future mortgageability: Refused Planning Applications, Outstanding Charges, Overdue Grants, Railway Schemes,...
Are there restrictive covenants that are commonly picked up during conveyancing in Woodlands?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Woodlands. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Woodlands differ for new build properties?
Most buyers of new build property in Woodlands approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is finished. This is because developers in Woodlands tend to buy the site, 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 conveyancers 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 used to new build conveyancing in Woodlands or who has acted in the same development.