My partner and I are only a couple days away from an exchange on a property in Hatton and my mum and dad have sent the ten percent deposit to my lawyer. I am now advised that as the deposit has been received from someone other than me my property lawyer needs to disclose this to my lender. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I disclosed to the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
Your conveyancing practitioner is duty bound to check with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
What does my ID and proof of funds have anything to do with my conveyancing in Hatton? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Hatton conveyancing firm will require proof of identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility account evidencing your correct address.
In accordance with Money Laundering Regulations, property lawyers are duty bound to check not just the identity of conveyancing clients but also the source of fund that they receive in respect of any matter. An unwillingness to disclose this may result in your lawyer cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to notify the appropriate authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
Just bought a terraced house in Hatton , how long will it take for the Land Registry to deal with the formalities evidencing my title? My Hatton conveyancing solicitor has been painfully slow, so I want to be sure the post completion formalities are dealt with.
There is nothing unique when it comes to conveyancing in Hatton registration formalities. As opposed to being determined by geographic area, timescales can differ subject to the party submitting the application, whether it is in order and if the Land registry must send notices to any other parties. As of today roughly three quarters of such applications are fully addressed in less than three weeks but some can be subject to protracted delays. Historically registration occurs once the new owner is living at the property therefore post completion formalities is not typically primary concern but where there is a degree of urgency associated with the registration then you or your lawyers could communicate with the Registry to express the reasoning for the application to be prioritised.
What tools are available to identify a Hatton law firm on the Chelsea Building Society conveyancing panel? I drive a motor bike and am prepared to travel upto 25miles to meet the conveyancer.
Feel free to make use of the facility on this website. Please choose the lender and your location and you will see a number of Hatton conveyancing lawyers locally. We have listed some Hatton conveyancing firms at the bottom of this page and you can ring them to verify whether they are on the Chelsea Building Society member panel
I am looking for a conveyancing lawyer in Hatton for my purchase. Can I review a firm’s record with the profession’s regulator?
You can see published Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Go to Check a solicitor's record. To find details Pre 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, call +44 (0)121 329 6800. The SRA may recorded call for training purposes.