In what way does my ID and proof of funds have anything to do with my conveyancing in Magor? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Magor 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 account evidencing your correct address.
Under Money Laundering Regulations, conveyancers are duty bound to validate not just the identity of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this may result in your solicitor terminating 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 make a disclosure to the relevant authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
There are a variety of conveyancing solicitors in Magor but how do I know who I should use?
Do not opt for the cheapest Magor conveyancing quote. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
My fiancee and I are at the point of looking at flats in Magor and I am about to put in an offer. Should I already have a lawyer in place at this point? I am planning to take a mortgage with Coventry BS.
It would be sensible to commence 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 contact information on to the estate agent. As you are obtaining a mortgage with Coventry BS, ask your prospective lawyers if they are on the Coventry BS conveyancing panel otherwise they can't do the mortgage legal work.
I was told two weeks ago that my mortgage has been agreed to by Barclays. Is it usual for Barclays to only issue the offer once my solicitor in Magor is approved on their conveyancing panel? Barclays have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
I appreciate that there are debates on Chancel Insurance on online forums. Am I compelled to take this when buying a property in Magor? or Apparently there is a law dating back centuries that means some homeowners residing in a parish church boundary may be liable to contribute towards repairs towards the chancel in proximity to the church. Is this a legitimate concern for conveyancing in Magor?
Unless a previous acquisition of the property completed post 12 October 2013 you may take it that lawyers conducting conveyancing in Magor to remain recommending a chancel search and or chancel repair liability insurance.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Magor is the location of the property. What do you suggest?
Flying freeholds in Magor are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Magor you would need to get your solicitor to go 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 Magor may determine 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.
Should I be concerned about estate agents that I am dealing with are encouraging me to use a nationwide conveyancing firm rather than a local Magor conveyancing firm?
As with lots of professional services, often recommendations from connections can be extremely useful or valuable. Nevertheless there are many players in a conveyancing deal; estate agents, mortgage brokers and banks might all suggest solicitors to appoint. On occasion the conveyancers might be known to one of the organisations as being good in their field, but occasionally there behind the scenes commercial relationship behind the recommendation. You are at liberty to appoint your own conveyancer. You need to be aware that some banks operate an approved list of law firms you have to use for the lender aspect of your home move.