What does my ID and proof of funds have anything to do with my conveyancing in Eltham? What am I being asked for?
To satisfy the Money Laundering Regulations any Eltham conveyancing firm will require proof of identity in all conveyancing matters. This is usually satisfied by provision of a passport and an original bank statement or utility account evidencing your correct address.
Under Money Laundering Regulations, conveyancers are required to ascertain not simply the ID of conveyancing clients but also the origin of fund that they receive in respect of any matter. An unwillingness to disclose this will lead to your conveyancer cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to inform the relevant authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.
Me and my partner are buying a flat in Eltham. I might seem paranoid but how we can trust a lawyer? On the day of competition we have to send money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We previously selected solicitors located in Eltham on the RBS solicitor panel. They have just billed me a supplemental amount for dealing with the RBS mortgage. Is this an additional conveyancing fee set by RBS?
As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your conveyancing practitioner may charge a fee for this. The fee is not set by RBS but by your Eltham conveyancer. Some firms on the RBS panel will charge ’dealing with mortgage’ fee and others do not.
Our sealed bid on a house in Eltham has been accepted, but there is a chain. The owners have placed an offer on on an apartment, but it’s not yet agreed to, and have viewings of other flats in the pipeline. I have chosen a local conveyancing solicitor in Eltham. What do I do now? At what stage do I apply for the mortgage with Santander?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of £1k, then survey, Eltham conveyancing search fees, etc). First, you should check that your conveyancing practitioner is on the Santander approved list. Regarding the next steps this very much depends on the uniqueness of your transaction, attraction to this property and on the state of the market. In a buoyant market some buyers would apply for a home loan with Santander and pay for the valuation and only if it was satisfactory would they request their solicitor to press on with searches.
I decided to have a survey completed on a house in Eltham prior to appointing lawyers. I have been advised that there is a flying freehold element to the house. The surveyor advised that some mortgage companies will not issue a mortgage on a flying freehold premises.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Eltham. Conveyancing will be smoother if you use a solicitor in Eltham especially if they are accustomed to such properties in Eltham.
What does commercial conveyancing in Eltham cover?
Eltham conveyancing for business premises incorporates a broad array of guidance, given by regulated solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
Am I better off to appoint a Eltham conveyancing lawyer in close proximity to the house I am hoping to buy? An old friend can carry out the legal work however his firm is located a couple of hundredmiles away.
The primary upside of using a high street Eltham conveyancing practice is that you can drop in to sign documents, hand in your ID and pester them if necessary. They will also have local insight which is a plus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and the majority were happy that should trump using an unknown Eltham conveyancing solicitor solely due to them being based in the area.