In what way does my ID and proof of funds have anything to do with my conveyancing in East Boldon? Why is this being asked of me?
To satisfy the Money Laundering Regulations any East Boldon conveyancing firm will require proof of identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility bill showing where you live.
Under Money Laundering Regulations, conveyancers are duty bound to investigate not just the ID of conveyancing clients but also the source of the money that they receive in respect of any matter. An unwillingness to disclose this may result in your lawyer terminating their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to inform the appropriate authorities should they consider that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
My bid for a property was accepted at auction in East Boldon. Conveyancing is required. What is next?
Now that you have for all intents and purposes signed on the dotted line you now have to instruct a conveyancing lawyer as a matter of urgency as you now have a tight a fixed date to complete the property. All auction property should have a corresponding auction set of papers. This will likely include evidence of title and search results. Where you are dealing with leasehold property the conveyancing pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to a leasehold property. You should hand this to the conveyancer instructed by you as soon as possible. Do make sure that you have funds in order to complete the transaction on the set completion date.
My lawyer has informed me that breach of easement insurance is required on my purchase. What is the level of cover for East Boldon conveyancing?
The right level of breach of easement indemnity insurance depends on who your lender is. It would differ for example between Halifax and Leeds Building Society. Conveyancing lawyers as opposed to borrowers take out such insurances.
Are all East Boldon Conveyancing Quality Solicitors on the Kent Reliance conveyancing panel?
It is true that some banks and building societies now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS membership however is 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 remain on their panels.
Due to the input of my in-laws I had a survey completed on a property in East Boldon before instructing solicitors. I have been informed that there is a flying freehold aspect to the property. Our surveyor advised that some mortgage companies will refuse to grant a mortgage on this type of property.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. If you call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in East Boldon. Conveyancing will be smoother if you use a solicitor in East Boldon especially if they are acquainted with such properties in East Boldon.
I have been advised by a number of selling agents in East Boldon to find a solicitor using your seach tool. Is there a financial inducement for Estate Agents to recommend your services over and above alternative conveyancing organisations?
We don’t offer any commission for directing people in our direction. We found it would be just too difficult a fee because home movers will think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
My fiance is buying a shared ownership flat in East Boldon. He has received an estimate by the conveyancer connected to the selling agents and it came to £1385 . It was eight years ago since I sold and purchased a property and the fee was £450. Have fees really increased to that extent?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance East Boldon searches, land registry fees, etc)