Is the fact that my conveyancer in South Shields is not on my mortgage company's solicitor panel that there is a problem with the standard of her work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the South Shields conveyancing firm and ask them why they are no longer on the approved list for your bank.
I am buying a property for cash in South Shields. I have resided for the last twelve years in South Shields. Conveyancing searches are a lot of money. Given that I have knowledge of the area and road intimately must I have all the conveyancing searches?
If you not getting a mortgage, then all but one or two of the South Shields conveyancing searches are optional. Your lawyer will ’encourage you, no-doubt strongly, that you should have searches done, but he is duty bound to take that path of advice. One thing to take into account; if you are going to sell the house one day, it may be of importance to your prospective purchaser what the searches reveal. On occasion properties with functional issues can still show up unexpected search results. A competent conveyancing solicitor in South Shields will be able to give you some sensible guidance here.
In what way does my ID and proof of funds have anything to do with my conveyancing in South Shields? Is this really warranted?
It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in South Shields. Nowadays you will not be able to complete any conveyancing transaction without first handing over proof of your identity. This usually takes the form of a either your passport or driving licence and a council tax bill. Please note that if you are providing your driving licence as proof of identification it needs to be both the paper section and photo card part, one is not satisfactory without the other.
Verification of your source of funds is necessary in accordance with the Money Laundering Regulations. Please do not be offended when you are asked to produce this as your conveyancer must retain this information on record. Your South Shields conveyancing practitioner will need to see evidence of proof of funds prior to accepting any monies from you into their client account and they may also ask additional queries regarding the origin of funds.
My wife and I are buying a property in South Shields. I might seem paranoid but how we can trust a conveyancer? On completion day we have to send money into their account. What protection do we have from them run away with our deposit?
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.
Planning on purchasing a flat in South Shields. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Santander conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the South Shields conveyancing practitioner is on the Santander conveyancing panel.
Aldermore have agreed my home loan in principle, my bid on a house in South Shields has been accepted, what are the next steps?
Your property agent will want to know who your solicitors are (be sure the lawyers are on the lender’s approved list). Telephone Aldermore or your broker and complete any relevant forms. Aldermore will sellect a valuer who will get in touch with the estate agent or seller to schedule an appointment. Once carried out (assuming no problems) it takes on average a fortnight to get a mortgage offer. Aldermore will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in South Shields.
My husband and I are one month into a residential purchase having been recommend to solicitors by the estate agent to execute conveyancing in South Shields. I am not happy. Can you help me find new conveyancers?
A solicitor would need to be really poor to suggest replacing them. Has the mortgage been generated? If so you will need to make them aware of the new contact details and ensure the offer are re-sent. The conveyancer needs to be on the banks approved list to avoid added fees and complications. So that should be your starting point. The search tool should assist you in finding a lender approved conveyancer for your conveyancing in South Shields