What does my ID and proof of funds have anything to do with my conveyancing in St Margarets? Why is this being asked of me?

St Margarets conveyancing solicitors and indeed property practitioners accross the UK have an obligation under Anti-terror and anti-money-laundering rules to verify the identity of any client in order to satisfy themselves that clients are who they say they are.

Conveyancing clients will need to supply two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill less than 3 months old).

Proof of source of monies is also required in compliance with the money laundering regulations as conveyancers have a duty to check that the monies you are using to acquire a property (whether it be the deposit for exchange or the total purchase monies where you are buying mortgage free) has come from legitimate source (such as employment savings) rather than the product of illegitimate behaviour.

My wife and I are buying a house in St Margarets. I might seem paranoid but how we can trust a conveyancer? At some point we will need to deposit money into their account. What protection do 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.

Two weeks ago we had a mortgage agreed in principle with Coventry BS. St Margarets conveyancing practitioners have been selected. What is the average time that one could expect to receive a mortgage offer from Coventry BS?

Some lenders take longer than others. Have Coventry BS done the valuation? Have you advised Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.

RBS have agreed my home loan in principle, my bid on a property in St Margarets has been accepted, what are the next steps?

The property agent will wish to be informed of your solicitor's details (be sure the lawyers are on the lender’s approved list). Telephone RBS or the broker and finish off any appropriate paperwork. RBS will sellect a valuer who will get in touch with the estate agent or vendor to arrange an appointment. Once conducted (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. RBS will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in St Margarets.

I decided to have a survey carried out on a house in St Margarets ahead of appointing conveyancers. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some banks will not grant a loan on such a property.

It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. Should you wish to telephone us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in St Margarets. Conveyancing will be smoother if you use a solicitor in St Margarets especially if they regularly deal with such properties in St Margarets.

We're FTB’s - had an offer accepted, but the selling agent has warned us that the owners will only go ahead if we use the agent's chosen solicitors as they are insisting on a ‘quick sale’. Our preferred option is to instruct a family conveyancer accustomed to conveyancing in St Margarets

We suspect that the owner is unaware of this demand. If they require ‘a quick sale', turning down a motivated buyer is is going to put the whole deal at risk. Avoid the agents and go straight to the owners and make the point that (a)you are genuine buyers (b)you are excited to move forward, with finances in place © you have nothing to sell (d) you wish to move quickly (e)but you intend to appoint your preferred St Margarets conveyancing lawyers - as opposed tothe ones that will earn the negotiator at the agency a introducer fee or meet his conveyancing figures pre-set by corporate headquarters.

Our solicitor in St Margarets has discovered a defect with the lease for the flat we are buying in St Margarets. The other side have offered defective title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor has advised that as he is on the bank conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is the mortgage company?

Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your St Margarets conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the mortgage company are the client. These conveyancing instructions have to be complied with by the bank conveyancing panel who has to balance acting for you and the lender