Much to our surprise we have been advised by our financial adviser that my Colwyn Bay lawyer is not on the bank Solicitor panel. How can I be sure whether this is correct?
The first thing you need to do is to contact your Colwyn Bay conveyancer. It is reasonable to expect your lawyer to advise you of the situation. Where they are not on the panel they may recommend you to a Colwyn Bay conveyancing practice that is on the conveyancing panel for your lender.
In what way does my ID and proof of funds have anything to do with my conveyancing in Colwyn Bay? Why is this being asked of me?
Colwyn Bay conveyancing solicitors as well as nationwide property lawyers accross the UK have an obligation under money laundering regulations to verify the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and evidence of address (usually a Utility Bill less than 3 months old).
Proof of source of monies is also required in compliance with the money laundering laws as solicitors are required to investigate that the monies you are utilising to purchase a property (be it the exchange deposit or the total purchase monies if you are a cash purchaser) has originated from an acceptable source (such as employment savings) as opposed to the product of illegitimate behaviour.
We are selling our home in Colwyn Bay. Does my conveyancer have to be required to be on the TSB conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the TSB conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently at the moment.
Are there restrictive covenants that are commonly identified during conveyancing in Colwyn Bay?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Colwyn Bay. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been on the look out for a leasehold apartment up to £305k and identified one round the corner in Colwyn Bay I like with a park and railway links in the vicinity, however it only has 52 years on the lease. There is not much else in Colwyn Bay suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the shortness of the lease will be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
My husband and I are 18 days into a freehold purchase having been directed to solicitors by the selling agent to perform conveyancing in Colwyn Bay. I am am starting to be dissatisfied with the level of service. Could you help me find new conveyancers?
A conveyancer would have to be really bad to suggest replacing them. Has the mortgage offer been issued? In the event that it has you must make them aware of the new conveyancer and ensure the mortgage documents are issued to the new lawyers. Your conveyancer should be on the mortgage company panel to avoid escalating fees and frustration. So that should be your starting point. The find a solicitor tool can assist you in finding a lender approved solicitor for your home move in Colwyn Bay