We are a couple about to sign contracts for a semi detached house in Topsham. We have hit a snag. Our loan offer with HSBC Bank runs out on 27/4/2021 but the vendors are suggesting a completion date of 29/4/2021. Is it possible to extend the mortgage expiry date?
The person best placed to deal with your question is your lawyer who will hopefully determine if they better off negotiating with the mortgage broker, vendor’s lawyers, selling agents or possibly all parties based on the history of your conveyancing to date.
What does my ID and proof of funds have anything to do with my conveyancing in Topsham? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Topsham conveyancing firm will require evidence of your identity in all conveyancing matters. This is usually dealt with by provision of a passport and an original bank statement or utility account showing your correct address.
In accordance with Money Laundering Regulations, conveyancing solicitors are required to ascertain not only the ID of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this will lead to your lawyer ending their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to make a disclosure to the relevant authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
I used Action Conveyancing a few years past for my conveyancing in Topsham. I now require my papers however cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Topsham of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Topsham. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Topsham
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply a car parking plan.
My husband and I are acquiring a garden flat in Topsham. When we first instructed conveyancer, they told us that they were on all mainstream mortgage company panels. Our financial adviser called just now to say that they are not on the HSBC approved list. Were it to be true, what should we do? Do we simply pick a new property lawyer that is on their approved list or do we pay for separate representation, with HSBC selecting their own preferred lawyer.
When purchasing a property with the benefit of a mortgage it is usual for the purchaser’s solicitors to also represent the mortgage company. In order to act for a bank or building society a conveyancing practitioner has to be on that lender's conveyancing panel. An application has to be made by the conveyancer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the conveyancer has to fulfill. Some banks now require their panel firms to be part of the Law Society’s Conveyancing Accreditation Scheme. Your conveyancing practitioner should call HSBC and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on HSBC's conveyancing panel and you may continue to use your own Topsham solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.