I can't travel far from Altrincham. What is the rationale as to why all Altrincham lawyers aren't included on all bank panels?
Banks tend to restrict either the type or volume of conveyancing solicitors on their panel. Frequent examples of such restriction(s) being that the practice needs to have two or more partners. In addition to restricting the type of firm, some building societies made a decision to reduce the size of their panel they permit to act for them. It is worth noting that mortgage companies have no responsibility for the standard of conveyancing supplied by any Altrincham solicitor on their approved list. Increases in mortgage fraud was the primary trigger for the reduction of solicitor panels a few years ago even though there are contrary thoughts concerning whether solicitors sat at the center of that fraud. Data published by HMLR reveal that thousands of conveyancing practices only conduct one or two conveyances annually. Those vindicating conveyancing panel pruning question why law firms should have any entitlement to be listed on a conveyancing panel when clearly property law is not their primary expertise?
Me and my partner are soon to exchange on the purchase of a property in Altrincham but as a result of wreckage from a small fire at the property I have managed to agree compensation from the seller of £3k taking the form of a deduction in the price. I had intended this to be addressed as part of amending the contract but UBS are not allowing this. Why were they notified?
The solicitor that is on a UBS conveyancing panel is duty bound to advise UBS of any variations to the purchase price. If you were to refuse your conveyancer to disclose the price change to UBS then they would have to discontinue acting for you. In addition, UBS and you would have to appoint a new conveyancing practitioner for your conveyancing in Altrincham.
In what way does my ID and proof of funds have anything to do with my conveyancing in Altrincham? Why is this being asked of me?
It is indeed that case that these requests have nothing to do with conveyancing in Altrincham. However these days you can not complete any conveyancing deal if you have not supplying evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a utility bill. Please note that if you are supplying your driving licence as proof of ID it needs to be both the paper element and photo card part, one is not satisfactory in the absence of the other.
Evidence of the source of funds is required under Money Laundering Regulations. Please do not be offended when you are asked to produce this as your conveyancing solicitor must retain this information on record. Your Altrincham conveyancing practitioner will need to see evidence of proof of funds before they are able to accept any money from you into their client account and they will also ask further queries regarding the origin of monies.
Should my solicitor be making enquiries regarding flooding during the conveyancing in Altrincham.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Altrincham. There are those who buy a house in Altrincham, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, however there are a number of searches that may be carried out by the buyer or by their conveyancers which can give them a better appreciation of the risks in Altrincham. The conventional set of completed inquiry forms sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a usual inquiry of the vendor to find out whether the property has suffered from flooding. In the event that flooding has previously occurred and is not revealed by the owner, then a buyer could bring a compensation claim stemming from an inaccurate answer. The purchaser’s conveyancers may also conduct an enviro search. This should reveal whether there is a recorded flood risk. If so, further inquiries should be conducted.
I own a renovated Victorian house in Altrincham. Conveyancing lawyer acted for me and Nationwide Building Society. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold with the matching address. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Altrincham and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with the conveyancing practitioner who conducted the purchase.