What does my ID and proof of funds have anything to do with my conveyancing in Bayswater? What am I being asked for?
Bayswater conveyancing solicitors and indeed property lawyers accross the UK have a duty under money laundering regulations to check the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients are required to provide two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and evidence of address (usually a Utility Bill less than 3 months old).
Confirmation of the origin of funds is also necessary under the money laundering regulations as conveyancers have a duty to check that the monies you are using to purchase a property (whether it be the deposit for exchange or the full purchase amount where you are buying mortgage free) has originated from an acceptable source (such as employment savings) rather than the proceeds of illegitimate behaviour.
Forgive me if this question is silly but I am unseasoned as FTB of a ground floor flat in Bayswater. Do I collect the keys to the premises on the completion date from my solicitor? If this is the case, I will use a local conveyancing solicitor in Bayswater?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the seller's solicitors, and shortly after the monies have arrived, you will be invited to pick up the keys from the Estate Agents and move into your new home. Usually this occurs between 1 and 3pm.
Can I be sure that the Bayswater conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Bayswater obtaining recommendations is a good starting point. 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 advise that you speak with the lawyer handling your transaction.
Planning on purchasing a maisonette in Bayswater. 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 Yorkshire BS 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 Bayswater conveyancer is on the Yorkshire BS conveyancing panel.
I am purchasing my first flat in Bayswater with a mortgage from Nationwide Building Society. The developers would not budge the price so I negotiated 6k of additionals instead. The estate agent told me not reveal to my lawyer about the side-deal as it may put at risk my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the encouragement of my in-laws I had a survey completed on a house in Bayswater ahead of appointing lawyers. I have been told that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies may refuse to issue a loan on a flying freehold property.
It varies from the lender to lender. HSBC has different instructions from Halifax. Should you wish to call us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Bayswater. Conveyancing may be slightly more expensive based on your lender's requirements.
Taking into account that I will soon part with hundreds of thousands of pounds on a property in Bayswater I wish to have a conversation with the solicitor regarding thehouse move ahead of instructing the firm. Can this be arranged?
Absolutely - we would be pleased to talk to you we do not take any clients on without you speaking to the conveyancer due to be conducting your conveyancing in Bayswater.There is no ‘factory style conveyancing’ - every client is unique individual, not a matter number. The law firms that we put you in touch with believe that the figure you are provided with for your conveyancing in Bayswater should be the figure that you are charged.
I need to retain a conveyancing solicitor for residential conveyancing in Bayswater. I have chance upon a site which looks to be the ideal offering If there is a chance to get all formalities done via phone that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?