I plan on purchasing residence in Colney Hatch. My Conveyancer has never been on on the lender conveyancing panel. Can I still continue with my Colney Hatch conveyancing solicitor notwithstanding that they are excluded from the mortgage company panel?
You have numerous options open to you here
- Complete the purchase with your chosen Colney Hatch solicitor but your bank will no doubt retain a solicitor on their approved panel. This will result in additional fees together with potential delay.
- Choose a fresh solicitor to act in the purchase, obviously checking they are on the bank conveyancing panel.
- Convince your conveyancer to pull out all the stops to get listed on the mortgage company panel of solicitors
What does my ID and proof of funds have anything to do with my conveyancing in Colney Hatch? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Colney Hatch conveyancing firm will require proof of identity in all conveyancing matters. This is usually satisfied by provision of a passport and an original bank statement or utility account showing where you reside.
Under Money Laundering Regulations, conveyancing solicitors are duty bound to investigate not only the ID of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this may result in your solicitor ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to inform the appropriate authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
Do I need to take out insurance to cover chancel repairs when buying a property in Colney Hatch?
Unless a prior acquisition of the property took place post 12 October 2013 you could expect lawyers carrying out conveyancing in Colney Hatch to continue to propose a a chancel search and or insurance against a claim.
I used Action Conveyancing several years past for my conveyancing in Colney Hatch. I now require my file but the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Colney Hatch of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm buying my first flat in Colney Hatch with a loan from Bank of Scotland. The sellers would not move on the price so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not reveal to my solicitor about the extras as it will impact my mortgage with Bank of Scotland. Should I keep quiet?.
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.
We're new to the buying process - agreed a price, yet the estate agent told us that the owners will only proceed if we use their recommended solicitors as they want a ‘quick sale’. My instinct tells me that we should use a high street conveyancer accustomed to conveyancing in Colney Hatch
We suspect that the seller is not behind this demand. If they desire ‘a quick sale', taking such a hostile approach to a serious purchaser is is going to put the whole deal at risk. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you intend to appoint your preferred Colney Hatch conveyancing lawyers - rather thanthose that will provide the negotiator at the agency a commission or hit his conveyancing thresholds pre-set by HQ.