Due to move into my new home in Campden Hill next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the lender. What risks does the lender expect the insurance to cover?
All property lawyers on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 requirements. These requirements are not limited to conveyancing in Campden Hill.
In what way does my ID and proof of funds have anything to do with my conveyancing in Campden Hill? Is this really necessary?
In order to comply with Money Laundering Regulations any Campden Hill conveyancing firm will require proof of identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account showing your correct address.
In accordance with Money Laundering Regulations, property lawyers are required to validate not just the identity of conveyancing clients but also the source of the money that they receive in respect of any matter. An unwillingness to disclose this may lead to your lawyer cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to make a disclosure to the appropriate authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
What does a local search inform me about the house my wife and I buying in Campden Hill?
Campden Hill conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search company such as Xpress Legal The local search is essential in every Campden Hill conveyancing purchase; that is if you don’t want any nasty once you have moved into your property. The search should reveal data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
I have todayfound out that Wolstenholmes have closed. They carried out my conveyancing in Campden Hill for a purchase of a leasehold apartment 12 months ago. How can I be sure that my home is registered correctly in the name of the former proprietor?
The quickest way to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Campden Hill conveyancing specialists.
I am thinking of appointing a conveyancing solicitor in Campden Hill for my home move. Is it possible to check a firm’s complaints history with the profession’s regulator?
Members of the public can search for published Solicitor Regulator Association (SRA) decisions stemming from inquisitions commenced on or after 1 January 2008. Visit Check a solicitor's record. To find details about the period before 1 January 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The SRA may monitor call for training purposes.
My solicitors in Campden Hill have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with the mortgage company. Is it case that being on the mortgage company conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.