I am need of leasehold conveyancing for an apartment in a fairly new development (five years built) in Faversham. Almost all the flats have already been occupied. Do I need carry out the conveyancing searches as part of conveyancing in Faversham?
A big part of the Faversham legal transfer of property is the conveyancing searches. There are a large number of companies delivering Faversham conveyancing searches, as well straight from the local authority. These are generally termed personal search organisation and they produce, not surprisingly, personal searches. Nevertheless, all Local Authority Search conveyancing products have one thing in common - they must secure their data from the local authoritative source.
In what way does my ID and proof of funds have anything to do with my conveyancing in Faversham? Why is this being asked of me?
Faversham conveyancing solicitors as well as nationwide property practitioners accross the UK have a duty under money laundering regulations to verify the identity of any client with a view to ensure that clients are who they say they are.
Conveyancing clients are required to provide two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and evidence of address (usually a Bank Statement no older than three months).
Proof of the origin of monies is also necessary in accordance with the money laundering laws as conveyancers are duty bound to check that the money you are using to purchase a property (be it the exchange deposit or the full purchase price where you are buying without a mortgage) has originated from a reputable source (such as employment savings) rather than the proceeds of illegitimate behaviour.
We expect to receive a AIP from Virgin Money this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Virgin Money recommend any Faversham solicitors on the Virgin Money conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Faversham solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
My wife and I are spending time looking at houses in Faversham and I am now considering a potential offer. Is it sensible to have my conveyancing practitioner on ‘stand by’? I intend to finance via a mortgage with RBS.
It would be prudent to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. Given that you are seeking a mortgage with RBS, ask your prospective lawyers if they are on the RBS conveyancing panel otherwise they can't do the mortgage legal work.
I have today made my last payment due on my mortgage with HSBC. I assume I don't need a Faversham solicitor on the HSBC panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your HSBC mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the HSBC mortgage from the register. HSBC, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
Due to the advice of my in-laws I had a survey completed on a house in Faversham before instructing lawyers. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some banks may refuse to grant a mortgage on a flying freehold house.
It varies from the lender to lender. Lloyds has different requirements from Halifax. Should you wish to call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Faversham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Faversham to see if the conveyancing will be more expensive.
I'm remortgaging my primary home to a buy to let loan with Nationwide Building Society and intend to use the remaining equity as a down payment on further house. The location we are looking at is Faversham. Will your conveyancers be able to act for the two banks and link together the transactions?
Do use our search tool on this page to check that the solicitors are approved by both lenders. Having checked that they are the conveyancer should be able to simultaneously deal with the two conveyancing matters but you should talk with you lawyer and make clear your expectations and needs.
We're new to the buying process - agreed a price, yet the selling agent informed us that the vendor will only proceed if we use the agent's preferred solicitors as they need an ‘expedited deal’. My instinct tells me that we should use a local solicitor with experience of conveyancing in Faversham
We suspect that the owner is not behind this requirement. Should the vendor want ‘a quick sale', alienating a serious purchaser is not the way to achieve this. Speak to the vendors direct and make the point that (a)you are serious purchasers (b)you are ready to go, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)but you intend to instruct your own,trusted Faversham conveyancing solicitors - rather thanthe ones that will earn their negotiator at the agency a introducer fee or hit his conveyancing thresholds pre-set by head office.