In what way does my ID and proof of funds have anything to do with my conveyancing in Woburn Sands? Is this really necessary?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identification documents of the person or body they are dealing with before they can accept their conveyancing instruction. The Terms and Conditions that you need to sign will no doubt confirm this. Your lender will also require certain documents to be viewed. Should you are unwilling to hand over ID verification documents, your solicitor can not take you on as a client.
How does conveyancing in Woburn Sands differ for newly converted properties?
Most buyers of new build property in Woburn Sands come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Woburn Sands tend to purchase the real estate, 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 Woburn Sands or who has acted in the same development.
I opted to have a survey completed on a house in Woburn Sands ahead of retaining solicitors. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some banks tend not issue a loan on a flying freehold house.
It varies from the lender to lender. HSBC has different requirements for example to Nationwide. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Woburn Sands. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Woburn Sands to see if the conveyancing will be more expensive.
What does commercial conveyancing in Woburn Sands cover?
Commercial conveyancing in Woburn Sands covers a broad range of advice, provided by regulated solicitors, relating to business property. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
My son is embarking on her first house purchase, the home loan was agreed last week in principle. One the seller agreed the offer on the house we called the mortgage company to progress the mortgage application. I was very surprised to learn that mortgage companies do not accept all lawyer, they have to be on a list, is this legal?
Mortgage Companies tend to restrict either the type or the number of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Woburn Sands solicitor on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.