In what way does my ID and proof of funds have anything to do with my conveyancing in Eccleshall? What am I being asked for?
In order to comply with Money Laundering Regulations any Eccleshall conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility bill evidencing your correct address.
In accordance with Money Laundering Regulations, conveyancing solicitors are duty bound to investigate not just the ID of conveyancing clients but also the origin of monies that they receive in respect of any matter. An unwillingness to disclose this may result in your conveyancer ending 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 make a disclosure to the relevant authorities should they consider that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
Please explain the implications if my lawyer’s firm is removed from the Clydesdale Solicitor panel ahead of completing my conveyancing in Eccleshall?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
How does conveyancing in Eccleshall differ for new build properties?
Most buyers of new build property in Eccleshall contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is built. This is because builders in Eccleshall typically acquire 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 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 Eccleshall or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Eccleshall is where the house is located. Can you shed any light on this issue?
Flying freeholds in Eccleshall are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Eccleshall you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Eccleshall may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I have recently placed an offer on an apartment in Eccleshall and the broker that we are using recommended his property lawyer. She quoted £800 plus VAT and disbursements. Does this sound steep?
Don't just go on 1 quote. You should seek like-for-like quotes for your conveyancing in Eccleshall. Then pick one that you trust and just as important, is on the approved list of the bank that you are sourcing your mortgage from.