Is the fact that my conveyancer in Chiswick is not identified on my bank's conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
That is most likely a wrong assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Chiswick conveyancing firm and ask them why they are no longer on the approved list for your bank.
What does my ID and proof of funds have anything to do with my conveyancing in Chiswick? What am I being asked for?
Chiswick conveyancing solicitors and indeed property lawyers throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to check the identity of any client in order 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 Bank Statement less than 3 months old).
Evidence of the origin of funds is also necessary under the money laundering laws as conveyancers are mandated to investigate that the funds you are utilising to buy a property (whether it be the deposit for exchange or the full purchase monies if you are buying without a mortgage) has originated from an acceptable source (such as employment savings) rather than the proceeds of illegitimate behaviour.
Various web forums that I have frequented warn that are the main cause of stalling in Chiswick house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure within the common causes of delays in the conveyancing process. Searches are not likely to be the root cause of slowing down conveyancing in Chiswick.
I am purchasing a new build house in Chiswick with the aid of help to buy. The builders would not budge the price so I negotiated £7000 of additionals instead. The sale representative suggested that I not reveal to my lawyer about this extras as it could put at risk my loan with Chelsea Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
My husband and I are new to the buying process - had an offer accepted, yet the estate agent informed us that the vendor will only issue a contract if we use the agent's recommended conveyancers as they need an ‘expedited deal’. We would rather use a local conveyancer used to conveyancing in Chiswick
We suspect that the owner is unaware of this demand. If they desire ‘a quick sale', turning down a serious buyer is not the way to achieve this. Speak to the owners direct and explain that (a)you are genuine purchasers (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you intend to use your preferred Chiswick conveyancing lawyers - not the ones that will provide their estate agent a referral fee or hit his conveyancing targets set by corporate headquarters.
We are about to purchasing a house in Chiswick. Can our solicitor have our purchase price private from the likes of Rightmove. How can this be done?
HMLR are legally bound to disclose price paid data on the official title for domestic properties nationwide including properties in Chiswick. The register of title is a public document, so HMLR would be breaching their statutory duty excluded specific properties such as your property in Chiswick.
You can ask HMLR to withhold the amount paid data however the answer would be a No.