I hired a Whitley Bay based lawyer for my conveyancing in Whitley Bay yesterday. After carefully reading the small print I noteI am liable for costs even if the sale doesn't happen. Should I go with them or select an internet conveyancing company promising no completion no cost conveyancing in Whitley Bay?
It is usually ‘give and take’ in that if "No Completion No Fee" is offered then the conveyancing charges will generally be uplifted to neutralise the transactions that fail to complete. Please beware that these schemes tend not to protect you from expenditure for example Whitley Bay conveyancing search expenses.
What does my ID and proof of funds have anything to do with my conveyancing in Whitley Bay? Why is this being asked of me?
Whitley Bay conveyancing solicitors and indeed property practitioners throughout the UK have an obligation under money laundering regulations to verify the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to disclose two forms of certified identification; proof of ID (usually a Passport or Driving Licence) and evidence of address (usually a Bank Statement less than 3 months old).
Proof of source of funds is also required under the money laundering laws as lawyers are mandated to check that the money you are using to buy a property (whether it be the deposit for exchange or the total purchase price where you are buying mortgage free) has come from legitimate source (such as an inheritance) as opposed to the proceeds of criminal activity.
I am helping my aunt sell her property in Whitley Bay. Does the conveyancer commission the energy assessment or it is for the owner to see to?
After the abolition of HIPs, energy assessments remained a required part of selling a property. An energy performance certificate should be to hand in advance of the property being marketed. This is not a task that lawyers ordinarily arrange. If you are instructing a Whitley Bay conveyancing practitioner they may be able to arrange energy performance certificates given their relationships with long established local assessors
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Whitley Bay bank branch on various occasions and was reassured it wasn't a problem and they would lend. My Whitley Bay conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they refuse to lend in accordance with their published requirements. Who do I believe?
The conveyancing practitioner must follow the Council of Mortgage Lenders’ Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Whitley Bay 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 Whitley Bay 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.
Despite weeks of looking the Title Certificate and documents to my house are lost. The conveyancers who conducted the conveyancing in Whitley Bay 4 years ago no longer exist. What are my options?
Nowadays there are duplicates made of almost everything, and your conveyancer will be aware exactly where to look for all the suitable documentation so you can buy or sell your property without any difficulty. If copies can’t be found, your lawyer can put in place insurance or indemnities protecting you against possible claims on the property.
I am buying a maisonette with all finances in place. I have provided conveyancer with 2 distinct forms of photo identification, bank statement, endless utility bills. Now he needs a copy from a probate lawyer acknowledging that the funds are in place and that it has come from inheritance and not via illegitimate means.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Whitley Bay conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.