My husband and I are hoping to buy a property in Harold Wood and are in fact using a Harold Wood conveyancing practice. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. The Royal Bank of Scotland have this evening contacted us to inform me that there is now an issue as our Harold Wood conveyancer is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Harold Wood solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
What does my ID and proof of funds have anything to do with my conveyancing in Harold Wood? Why is this being asked of me?
Harold Wood conveyancing solicitors as well as nationwide property practitioners accross the UK have an obligation under money laundering regulations to check the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to provide two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and evidence of address (typically a Bank Statement no older than three months).
Proof of the origin of monies is also necessary under the money laundering statutes as lawyers are required to ensure that the money you are using to acquire a property (whether it be the deposit for exchange or the full purchase price where you are buying mortgage free) has originated from legitimate source (such as employment savings) rather than the proceeds of illegitimate activity.
I am purchasing a garden flat in Harold Wood. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Harold Wood you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Harold Wood.
We are buying a detached bungalow in Harold Wood. We would like to convert the garage to a playroom at the house.Will the conveyancing process include enquiries to see if these alterations were previously refused?
Your conveyancer should review the registered title as conveyancing in Harold Wood can sometimes reveal restrictions in the title documents which prevent categories of alterations or require the permission of a 3rd party. Certain works call for local authority planning permissions and approval under the building regulations. Many locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be sensible to check these things with a surveyor ahead of any purchase.
My lawyer has informed me that defective lease insurance is necessary on my purchase. What is the level of cover for Harold Wood conveyancing?
The right level of defective lease indemnity insurance should be dictated by who who your lender is. It would differ for example between Santander and Norwich and Peterborough Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
We expect to receive a OIP from Coventry BS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Coventry BS recommend any Harold Wood solicitors on the Coventry BS conveyancing panel, or is it better to go independently?
You will need to appoint Harold Wood solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
I used Wolstenholmes several years past for my conveyancing in Harold Wood. I now require my file however the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Harold Wood of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
My husband and I are 3 weeks into a freehold purchase having been directed to a firm by the estate agent to do our conveyancing in Harold Wood. I am am extremely frustrated with the level of service. Could you help me find new solicitors?
They would have to be really poor to suggest changing them. Has the mortgage offer been issued? If so you need to make them aware of the replacement conveyancer and have the loan are re-sent. Your new solicitor ideally needs to be on the lenders approved list to avoid supplemental expenses and complications. That should be your starting point. The search tool will assist you in finding a bank approved solicitor for your home move in Harold Wood