What does my ID and proof of funds have anything to do with my conveyancing in Yardley? Is this really necessary?
Yardley conveyancing solicitors as well as nationwide property practitioners throughout the UK have a duty under money laundering regulations to check the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to disclose two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and proof of address (usually a Bank Statement no more than three months).
Evidence of the origin of monies is also necessary in compliance with the money laundering regulations as conveyancers have a duty to investigate that the money you are utilising to buy a property (be it the exchange deposit or the full purchase price where you are a cash purchaser) has originated from legitimate source (such as employment savings) as opposed to the proceeds of illegitimate activity.
There are numerous conveyancing solicitors in Yardley but how do I know who's good?
Do not opt for the lowest Yardley conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
My solicitor has informed me that lack of building regulations insurance is needed on my purchase. What is the level of cover for Yardley conveyancing?
The appropriate level of lack of building regulations indemnity insurance depends on your lender. It would differ for example between Nationwide Building Society and The Royal Bank of Scotland. Conveyancing solicitors as opposed to members of the public take out such policies.
I am currently in the process of buying my council flat in Yardley. I have a mortgage agreed with Aldermore. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Aldermore, you will need to appoint a solicitor on the Aldermore conveyancing panel.
How does conveyancing in Yardley differ for new build properties?
Most buyers of new build premises in Yardley come to us having been asked by the developer to sign contracts and commit to the purchase even before the residence is constructed. This is because builders in Yardley tend to 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 Yardley or who has acted in the same development.
I'm remortgaging my primary house to a buy to let mortgage with Platform Home Loans Ltd and intend to use the remaining equity towards further house. The neighborhood we are looking at is Yardley. Will your lawyers be able to act for the two lenders and link together the transactions?
Make use of our comparison tool on this page to check that the lawyers are on the appropriate lender panels. Having checked that they are the solicitor should be able to simultaneously deal with the two deals but you should talk with you lawyer and communicate your desired outcome and needs.
My conveyancers in Yardley have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with the bank. Is it case that being on the mortgage company conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the mortgage company Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.