In what way does my ID and proof of funds have anything to do with my conveyancing in Kimbolton? What am I being asked for?
In order to comply with Money Laundering Regulations any Kimbolton conveyancing firm will require proof of identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility bill showing where you live.
In accordance with Money Laundering Regulations, conveyancing solicitors are duty bound to ascertain not simply the ID of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this will result in your conveyancer cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to inform the appropriate authorities should they consider that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
I have an AIP. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to use their panel solicitor as I would prefer to instruct a local conveyancing solicitor in Kimbolton?
Do check but the chances are that allocate you one of their panel solicitors if you want the "fee-free" offer. Contact the lender and ask if they allow a monetary alternative. Some banks have previously offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor in Kimbolton.
Can I be sure that the Kimbolton conveyancing solicitor on the Santander panel is any good?
When it comes to conveyancing in Kimbolton seeking recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer conducting your transaction.
I can not fathom if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Kimbolton bank branch on numerous occasions and was told it does not impact the mortgage offer and they would lend. My Kimbolton conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they will not lend in accordance with their published requirements. I have no idea who is right.
Provided that the property lawyer is on the mortgage company approved list, they must follow the CML Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am selling my apartment. I had a double glazing fitted in July 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Barclays are being pedantic. The Kimbolton solicitor who is on the Barclays conveyancing panel is saying indemnity insurance will be fine but Barclays are insisting on a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
A relative suggested that if I am purchasing in Kimbolton I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Kimbolton conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Kimbolton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful information about Kimbolton.
How does conveyancing in Kimbolton differ for newly converted properties?
Most buyers of new build premises in Kimbolton contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is constructed. This is because builders in Kimbolton tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Kimbolton or who has acted in the same development.
What is the distinction between surveying and conveyancing in Kimbolton?
Conveyancing - in Kimbolton or elsewhere - is the process of legally transferring legal title of property from one person to another. It therefore includes the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you’re purchasing and will help you find out about the condition of the building and, if there are problems, give you a powerful reason for reducing the price down or asking the seller to remedy the defects before you move in.