What does my ID and proof of funds have anything to do with my conveyancing in Almondsbury? What am I being asked for?
You are right in the requirement set out by your lawyer has nothing to do with conveyancing in Almondsbury. Nowadays you will not be able to proceed with any conveyancing transaction if you have not handing over 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 ID it needs to be both the paper element as well as the photo card part, one is not sufficient in the absence of the other.
Verification of your source of funds is necessary under Money Laundering Regulations. Don’t be offended when you are asked to produce this as your lawyer must have this information on file. Your Almondsbury conveyancing lawyer will require evidence of proof of funds before they are able to accept any funds from you into their client account and they will also ask additional questions concerning the origin of monies.
I had intended to instruct a property lawyer in Almondsbury for our home move. Our broker has since notified us that our mortgage company Nottingham Building Society won't deal with them. Surely this is unduly restrictive?
Banks normally imposes restrictions either the category or the volume of conveyancing firms on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. As well as restricting the type of firm, some have limited the amount of firms they allow to act for them. Be aware that Nottingham Building Society have no responsibility for the quality of advice provided by any member of Nottingham Building Society Conveyancer Panel. Mortgage fraud was a key driver in the reduction of conveyancing panels since 2008 even though there are differing opinions regarding the level of solicitor involvement in some of that fraud. Statistics from the Land Registry indicate that thousands of law firms, including some in or near Almondsbury only execute very few conveyances a year.
How does conveyancing in Almondsbury differ for new build properties?
Most buyers of new build or newly converted property in Almondsbury approach us having been asked by the developer to sign contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Almondsbury usually purchase 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 Almondsbury or who has acted in the same development.
We are a couple of weeks into a freehold purchase having been recommend to solicitors by the high street agent to perform conveyancing in Almondsbury. We are not happy. Could you help me find new solicitors?
A conveyancer would have to be very bad to suggest diss instructing them. Has the loan offer been generated? If so you must advise them of the new contact details and get the offer are issued to the new lawyers. Your new conveyancer needs to be on the mortgage company panel to avoid supplemental charges and delays. So that should be your first question of the new conveyancers. The find a solicitor tool can assist you in finding a lender approved solicitor for your conveyancing in Almondsbury
Am in the process of purchasing my 1st home in Almondsbury. Conveyancing solicitor already selected. The mortgage adviser advised that a survey is not necessary as the house is just fifteen years old.
As the bare minimum you need a Home Buyer's Report. As the premises is more than 10 years old the property will not benefit from a warranty, so you don't want to take a risk. For a property that age with no signs of defects a Home Buyer's report may suffice. They will highlight any apparent problems and suggest additional investigation if relevant. Where there are any signs of problems obtain a comprehensive Building Survey from the beginning.