In what way does my ID and proof of funds have anything to do with my conveyancing in Dunmow? Why is this being asked of me?
Dunmow conveyancing solicitors as well as nationwide property lawyers throughout the UK have a duty under Anti-terror and anti-money-laundering rules to check the identity of any client with a view to ensure that clients are who they say they are.
Conveyancing clients will need to produce two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and proof of address (usually a Utility Bill no more than three months).
Proof of the origin of monies is also necessary in accordance with the money laundering regulations as lawyers have a duty to check that the funds you are utilising to purchase a property (be it the exchange deposit or the total purchase price if you are buying mortgage free) has originated from a reputable source (such as employment savings) as opposed to the product of criminal behaviour.
Is it the case that all Dunmow CQS (Conveyancing Quality Scheme) solicitors are on the Nottingham conveyancing list of approved firms?
It is true that some banks and building societies now make use of the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of firms.
My fiancee and I are in the process of viewing flats in Dunmow and I am about to put in an offer. Is it premature to have a solicitor in place? I will be getting a home loan with Nationwide.
It would be advisable to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. As you are getting a mortgage with Nationwide, make sure you remember to check that your lawyer is on the Nationwide conveyancing panel.
After months of negotiation I have agreed a price on an apartment in Dunmow. My mortgage broker suggested a lawyer. I paid an advanced payment of £175. Soon after, the solicitor contacted me embarrassingly acknowledging that they were not on the TSB 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 TSB 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.
How does conveyancing in Dunmow differ for newly converted properties?
Most buyers of new build or newly converted property in Dunmow come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is built. This is because builders in Dunmow usually purchase the land, 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 Dunmow or who has acted in the same development.
Am I right to be concerned that brokers that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a High Street Dunmow conveyancing practice?
As with lots of service providers, often referrals from connections can be worth their weight in gold. But there are many players in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies may put forward solicitors to appoint. On occasion these conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there may be a commercial relationship behind the endorsement. You are free to choose your own lawyer. Don't forget that many lenders operate an approved list of law firms you are obliged to use for the lender related work in your house move.
What makes a Dunmow lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in Dunmow. All leases are individual and drafting errors can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:
A duty to insure the building Clauses dealing with recovering service charges for expenditure on the building or common parts.
You will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Norwich and Peterborough Building Society, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to withdraw.
Dunmow Conveyancing for Leasehold Flats - Sample of Queries before buying
The best form of lease structure is where the freehold interest is in the ownership of the leaseholders. In this situation the tenants enjoy being in charge if their destiny and notwithstanding that a managing agent is often retained where the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Are any of leasehold owners in dispute over their service charge payments?