Our Binstead conveyancer has identified a difference when comparing the assumptions in the home valuation report and what is in the conveyancing documents. My solicitor says that he is obliged to check that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s approach appropriate?
Your solicitor must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
What does my ID and proof of funds have anything to do with my conveyancing in Binstead? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Binstead conveyancing firm will require proof of identity in all conveyancing transactions. This is usually dealt with by provision of a passport and an original bank statement or utility account evidencing your correct address.
In accordance with Money Laundering Regulations, conveyancing solicitors are required to ascertain not simply the ID of conveyancing clients but also the source of fund that they receive in respect of any matter. An unwillingness to disclose this will lead to your solicitor cancelling their relationship 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 monies received by them may contravene the Money Laundering Regulations.
I am about to put a bid on a leasehold property in Binstead. The property agents assure me that it is usual for flats in Binstead to have less than 75 years left on the lease. I am taking out a mortgage with Tesco Bank. Will the property be mortgageable given that the lease has Seventy One years to go.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 4/8/2025 the requirements read as follows :
We are aiming to move house in October. Will my conveyancing solicitor update the removal company on the completion day. Incidentally, can you put forward a removal company in Binstead. Conveyancing solicitor was chosen prior to coming across this website.
On the day of completion you will need to pick up the keys from your estate agent however this can only happen after the vendors lawyers confirm to the agent that they have the completion monies and the keys can be handed over. You will need to tell the removal company that they can start moving you in. As a matter of policy we do not suggest a specific removal company but can assist you in choosing a conveyancing in Binstead or a firm that specialises in conveyancing in Binstead.
We previously appointed conveyancers located in Binstead on the Virgin Money solicitor panel. They are now charging me an additional sum for dealing with the Virgin Money mortgage. Is this a supplemental conveyancing fee specified by Virgin Money?
Provided it is contained in their Terms and Conditions or Quote then yes your property lawyer is entitled to charge a fee for this. The charge is not dictated by Virgin Money but by your Binstead solicitor. Plenty of firms on the Virgin Money panel will charge ’dealing with mortgage’ fee and others do not.
Two weeks ago we had a mortgage agreed in principle with Nottingham. Binstead conveyancing practitioners have been appointed. What is the average time that one could expect to receive a mortgage offer from Nottingham?
There is no definitive answer here. Have Nottingham conducted the valuation? Have you advised Nottingham as to your lawyers' details and checked that your lawyers are on the Nottingham conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Hoping to buy a property located in Binstead and I am already nervous. I couldn't find anything specific about Binstead. Conveyancing will be needed in due course but do you know about the Binstead area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Binstead. In the meantime here are some basic statistics that we found
How up-to-date is your search tool for the bank conveyancing panel in Binstead? Do the mortgage companies send you an updated list?
Binstead law firm practices and firms conducting conveyancing in Binstead themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the bank directly.