What does my ID and proof of funds have anything to do with my conveyancing in Audley? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Audley conveyancing firm will require proof of identity in all conveyancing matters. This is usually satisfied by provision of a passport and an original bank statement or utility bill evidencing your correct address.
In accordance with Money Laundering Regulations, conveyancing solicitors are obliged by law to investigate not just the ID of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this will lead to your solicitor ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to notify the appropriate authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
How can we know in advance if a Audley conveyancing solicitor on the Skipton panel is any good?
When it comes to conveyancing in Audley getting recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer conducting your conveyancing.
It is unclear whether my lender requires a lease extension. I have telephoned my Audley bank branch on various occasions and was reassured it wasn't an issue and they would lend. My Audley conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
Your conveyancer must follow the Council of Mortgage Lenders’ Handbook section two conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender 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 remaining.
I am selling my flat. I had a double glazing fitted in December 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Bank of Ireland are being pedantic. The Audley solicitor who is on the Bank of Ireland conveyancing panel is recommending indemnity insurance as a solution but Bank of Ireland are requiring a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Audley differ for new build properties?
Most buyers of new build property in Audley come to us having been asked by the developer to sign contracts and commit to the purchase even before the property is finished. This is because builders in Audley tend to acquire 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 property lawyers 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 Audley or who has acted in the same development.
I opted to have a survey completed on a house in Audley in advance of instructing solicitors. I have been told that there is a flying freehold element to the house. My surveyor advised that some mortgage companies tend not grant a mortgage on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different requirements from Nationwide. If you call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Audley. Conveyancing may be slightly more expensive based on your lender's requirements.
How simple is it to swap conveyancer as I need to retain one who is on the Aldermore conveyancing panel. I hired a local conveyancing solicitor in Audley five minutes from me but he is not accepted by Aldermore
It would be our pleasure to assist you find a conveyancing solicitor in Audley on the Aldermore panel. Please note that the solicitors that we list do not pay us commission if you instruct them and are fully regulated by the SRA who oversee all conveyancing solicitors in Audley. In making use of search facility on this page, you can contrast costs for conveyancing solicitors in Audley and beyond.
I am buying a house with all finances in place. My lawyer has been given with 2 distinct forms of photo ID, bank statement, endless utility bills. Now he requires a copy from a probate lawyer stating that the money is in place and that it has come from inheritance and not dealing E's in Ibiza.
In today’s world you will not be able to complete any Audley conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Establishing of your source of funds is required under Money Laundering laws.