Much to our surprise we have been informed by our lender that my Holland Park solicitor is not on the bank Solicitor panel. How can I be certain that this is indeed the case?
The first thing you need to do is to call your Holland Park conveyancer. You lawyer should advise you of the situation. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your mortgage company.
My wife and I are only a couple days away from an exchange on a house in Holland Park and my mum and dad have sent the exchange deposit to my lawyer. I am now informed that as the deposit has been sent from someone other than me my lawyer needs to make a notification to my mortgage company. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your solicitor is legally required to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
In what way does my ID and proof of funds have anything to do with my conveyancing in Holland Park? Is this really warranted?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identity of the potential client they are dealing with before they can accept their conveyancing retainer. The Terms of Engagement that you need to sign will no doubt reaffirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you are unwilling to hand over identification documents, your solicitor can not take you on as a client.
Me and my partner are buying a apartment in Holland Park. I might seem paranoid but how we can trust a lawyer? At some point we have to send our life savings into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My stepmother informed me that in buying a property in Holland Park there may be a number of restrictions preventing external alterations to the property. Is this right?
We are aware of a number of properties in Holland Park which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Holland Park should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am selling my apartment. I had a double glazing fitted in July 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Coventry BS are being difficult. The Holland Park solicitor who is on the Coventry BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Coventry BS are insisting on a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
A friend advised me that where I am purchasing in Holland Park I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually included in the estimate for your Holland Park conveyancing searches. It is not a small report of more than thirty pages, listing and setting out important information about Holland Park around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Holland Park Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful information concerning Holland Park.