What does my ID and proof of funds have anything to do with my conveyancing in Upper Walthamstow? What am I being asked for?

In order to comply with Money Laundering Regulations any Upper Walthamstow conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility account showing where you reside.

Under Money Laundering Regulations, property lawyers are obliged by law to ascertain not just the ID of conveyancing clients but also the origin of monies that they receive in respect of any matter. Refusal to disclose this will lead to your solicitor 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 notify the relevant authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.

In reviewing mumsnet.com for a cheap solicitor in Upper Walthamstow, many say that I must instruct a CQS accredited solicitor. What is CQS?

Upper Walthamstow Conveyancing Quality Scheme law firms have obtained accreditation under the Law Society's Scheme (CQS) The Law Society introduced CQS to promote high standards in the in the legal transfer of properties. CQS helps consumers to recognise practices who provide a quality residential conveyancing. Upper Walthamstow is one of the many areas in England and Wales in which CQS have a presence. The scheme requires practices to undergo a strict assessment, compulsory training, self-reporting, spot checks and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Council of Mortgage Lenders.

My wife and I are purchasing a apartment in Upper Walthamstow. I might seem paranoid but how we can trust a lawyer? On completion day we will need to send money into their account. What is the protection 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.

My conveyancer has informed me that lack of building regulations insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Upper Walthamstow?

The right level of lack of building regulations indemnity insurance depends on who your lender is. It would differ for example between HSBC Bank and Bank of Scotland. Conveyancing practitioners as opposed to borrowers take out such policies.

I've read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Upper Walthamstow solicitor - who is on the Nottingham conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?

Nottingham will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Upper Walthamstow surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.

3 months have gone by since my purchase conveyancing in Upper Walthamstow concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

The estate agent has sent us the confirmation of our purchase of a new build flat in Upper Walthamstow. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.

Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Upper Walthamstow

Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please provide evidence that the form of Lease proposed has been approved by the Land Registry.