All was ready to move into my new home in Balsall Heath next Monday. My lawyer now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What risks does the bank expect the insurance to cover?
All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These obligations are not specific to conveyancing in Balsall Heath.
What does my ID and proof of funds have anything to do with my conveyancing in Balsall Heath? Why is this being asked of me?
It is indeed that case that these requests have nothing to do with conveyancing in Balsall Heath. Nowadays you will not be able to proceed with any conveyancing transaction in the absence supplying proof of your identity. This usually takes the form of a either your passport or driving licence and a council tax bill. Please note that if you are providing your driving licence as proof of identification it must be both the paper element and photo card part, one is not sufficient in the absence of the other.
Evidence of the source of monies is necessary in accordance with the Money Laundering Regulations. You should not be offended when when this is requested of you as your conveyancing solicitor must retain this information on record. Your Balsall Heath conveyancing lawyer will require evidence of proof of funds prior to accepting any funds from you into their client account and they should also ask further queries regarding the source of monies.
I am assisting my sister sell her flat in Balsall Heath. Does the solicitor arrange the energy performance certificate or it is for the seller to coordinate?
After the demise of Home Packs, EPC’s became a compulsory component of selling a house. An energy performance certificate should be commissioned before the property is marketed. It is not something that solicitors ordinarily organise. Where you are using a Balsall Heath conveyancing solicitor they might be able to arrange EPC’s due to their contacts with long established Balsall Heath assessors
Are all Balsall Heath Conveyancing Quality Solicitors on the Santander conveyancing list of approved practices?
Some major lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their panels.
Can I be sure that the Balsall Heath conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in Balsall Heath seeking recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer conducting your conveyancing.
What tools are available to search for a Balsall Heath law firm on the Lloyds TSB Bank conveyancing panel? I have a car and am prepared to travel upto 20kilometers to meet the solicitor.
Feel free to make use of the search on this page. Please choose the lender and your location and you will see a number of Balsall Heath conveyancing lawyers located nearest you. We have listed some Balsall Heath conveyancing firms at the bottom of this page and you can telephone them to verify if they are on the Lloyds TSB Bank panel
Developers have put forward a solicitor and I've sought an estimate from them. They are almost £250 less expensive than my local Balsall Heath conveyancing practitioner. What's the catch?
Developers often have lists of lawyers who expedite matters and who know the builder's paperwork and property lawyer. Plenty of developers offer an incentive to select their approved solicitor for this reason, any increased cost can be avoided and a builder will not put forward a conveyancing warehouse and run the risk of having the transaction delayed when they want exchange inside a month. A counter-argument for not agreeing to use the recommended conveyancing practitioner is that they may be hesitant to fight for your interests at the risk of upsetting the sellers. Where you have concerns that this may be the case you should stick with your high street Balsall Heath conveyancing practitioner.