In what way does my ID and proof of funds have anything to do with my conveyancing in Banstead? What am I being asked for?
In order to comply with Money Laundering Regulations any Banstead conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility account showing where you reside.
In accordance with Money Laundering Regulations, conveyancing solicitors are duty bound 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 may result in your solicitor cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to make a disclosure to the relevant authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.
Do I have to visit the offices of the solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Banstead so that I can pop in to their offices when needed.
Nowadays conveyancing panel lawyers for lenders carry out all of the communications through the post, e-mail or over phone calls. This enables them to conduct the conveyancing transaction no matter where you live in England or Wales. That being said you can see if you can still book an appointment to visit conveyancing lawyer if you prefer.
Is there a list of Virgin Money panel solicitors in Banstead on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. Very few lenders make their panel listings viewable on the web. Where you are looking for a Banstead conveyancer on the Virgin Money please use our facility.
Last month we had a mortgage agreed in principle with Barclays. Banstead conveyancing lawyers were selected. How long does it take for Barclays to send the offer to the lawyer?
There is no definitive answer here. Have Barclays done the valuation? Have you informed Barclays as to your lawyers' details and checked that your lawyers are on the Barclays conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
About to purchase flat in Banstead. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Lloyds conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Banstead lawyer is on the Lloyds conveyancing panel.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Banstead is the location of the property. Is there any advice you can give?
Flying freeholds in Banstead are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Banstead you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Banstead may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
We're FTB’s - agreed a price, but the estate agent informed us that the vendor will only issue a contract if we appoint their preferred lawyers as they want an ‘expedited deal’. My instinct tells me that we should use a family conveyancer who is accustomed to conveyancing in Banstead
It is highly unlikely the owners are driving this. If they desire ‘a quick sale', turning down a serious purchaser is going to damage their objectives. Bypass the agents and go straight to the sellers and explain that (a)you are serious buyers (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you are going to instruct your own,trusted Banstead conveyancing firm - not the ones that will earn the negotiator at the agency a referral fee or achieve conveyancing figures pre-set by senior management.
Our conveyancer in Banstead has requested from me ID documents stating that this is part of his requirements as a conveyancer on the bank Conveyancing panel. Can you confirm whether this is the case?
Anti-terror and anti-money-laundering rules require Banstead conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that the bank also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the bank's UK Finance Lenders’ Handbook requirements