What does my ID and proof of funds have anything to do with my conveyancing in Walthamstow? Is this really warranted?

In order to comply with Money Laundering Regulations any Walthamstow conveyancing firm will require proof of identity in all conveyancing transactions. This is normally 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 simply the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this will result in your lawyer ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.

Your property lawyers are duty bound to make a disclosure to the appropriate authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.

We are purchasing a terrace house in Walthamstow. The intention is to convert the garage to a playroom at the house.Will the conveyancing process involve investigations to see if these works are prohibited?

Your property lawyer will review the deeds as conveyancing in Walthamstow will on occasion identify restrictions in the title deeds which prevent certain alterations or need the permission of a 3rd party. Many extensions require local authority planning consent and approval in compliance with building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these things with a surveyor before you commit yourself to a purchase.

My husband and I have organised a further advance on our mortgage from Leeds Building Society as we wish to carry out alterations to our home in Walthamstow. Do we need to appoint a high street Walthamstow solicitor on the Leeds Building Society conveyancing panel to handle the paperwork?

Leeds Building Society don't usually require a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society list.

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

UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS 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 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.

How does conveyancing in Walthamstow differ for new build properties?

Most buyers of new build residence in Walthamstow approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is built. This is because builders in Walthamstow usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Walthamstow or who has acted in the same development.

Taking into account that I will soon part with £400,000 on a garden flat in Walthamstow I would like to have a conversation with the lawyer regarding thehome move prior to appointing the firm. Can this be arranged?

Absolutely - it is our preference to talk to you we do not take any clients on without you first talking to the solicitor due to be conducting your conveyancing in Walthamstow.There is no ‘factory style conveyancing’ - every client is unique person, not a matter reference. The solicitors that we put you in touch with believe that the figure you are quoted for your conveyancing in Walthamstow should be the figure that you end up paying.

My husband and I have just discovered that one of the partners of the firm acting on the purchase conveyancing in Walthamstow is a relative of the seller. Is this acceptable?

As long as there is no conflict of interest this should be fine. Where you are needing a mortgage then the mortgage company may have a say as many mortgage companies have specific instructions concerning this. For example for Chelsea Building Society as of 13/4/2024, the requirements read as follows :