My wife and I are looking to buy a property in Cheetham Hill and are in fact using a Cheetham Hill conveyancing firm. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Godiva Mortgages Ltd have this morning contacted us to advise us that there is now an issue as our Cheetham Hill solicitor is not on their approved list of lawyers. What do we do from here?
If you are buying a property needing a mortgage it is conventional for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Cheetham Hill solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
What does my ID and proof of funds have anything to do with my conveyancing in Cheetham Hill? Is this really necessary?
Cheetham Hill conveyancing solicitors as well as nationwide property lawyers accross the UK have a duty under Anti-terror and anti-money-laundering rules to verify the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to disclose two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and evidence of address (typically a Utility Bill less than 3 months old).
Confirmation of the origin of funds is also necessary in compliance with the money laundering laws as conveyancers are duty bound to check that the funds you are utilising to acquire a property (be it the exchange deposit or the full purchase monies if you are buying without a mortgage) has originated from legitimate source (such as employment savings) and is not the fruits of illegitimate activity.
Should my lawyer be making enquiries regarding flooding during the conveyancing in Cheetham Hill.
The risk of flooding is if increasing concern for lawyers conducting conveyancing in Cheetham Hill. Plenty of people will acquire a property in Cheetham Hill, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Solicitors are not qualified to give advice on flood risk, however there are a numerous checks that can be initiated by the purchaser or on a buyer’s behalf which will give them a better appreciation of the risks in Cheetham Hill. The standard information given to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the vendor to find out if the property has suffered from flooding. If flooding has previously occurred which is not revealed by the vendor, then a purchaser may commence a legal claim for losses resulting from an misleading answer. A buyer’s solicitors may also commission an enviro search. This should higlight if there is any known flood risk. If so, further inquiries should be initiated.
I have todaybeen informed that Action Conveyancing have closed. They conducted my conveyancing in Cheetham Hill for a purchase of a leasehold apartment 18 months ago. How can I check that the property is registered correctly in the name of the former proprietor?
The easiest method to check if the property is in your name, you can carry out 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 Cheetham Hill conveyancing specialists.
Due to the encouragement of my in-laws I had a survey completed on a house in Cheetham Hill prior to instructing solicitors. I have been told that there is a flying freehold element to the property. Our surveyor advised that some lenders tend refuse to grant a mortgage on such a house.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. If you e-mail us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Cheetham Hill. Conveyancing may be slightly more expensive based on your lender's requirements.
I cannot travel my Cheetham Hill conveyancing lawyers office to sign documents connected to my conveyancing in Cheetham Hill – is this a problem?
You need not be concerned. Cheetham Hill conveyancing lawyers can undertake conveyancing transactions for clients throughout the rest of the country. You are unlikely to be required to attend a Cheetham Hill conveyancers office. They can handle everything remotely from their Cheetham Hill office.