My mortgage broker has asked me for my King's Cross law firm’s panel reference for the HSBC conveyancing panel. Can you suggest how I obtain this. I have e-mailed my local King's Cross branch but they cant find it on their system.
You are best placed to get this information from your King's Cross property lawyer . They maintain a central record lender panel numbers.
My husband and I are only a couple days away from an exchange on a flat in King's Cross and my parents have sent the ten percent deposit to my lawyer. I am now informed that as the deposit has been sent from someone other than me my conveyancing practitioner needs to disclose this to my mortgage company. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank concerning my parents' contribution when I applied for the home loan, so is it really appropriate for this now to delay the deal?
Your lawyer is obliged to check with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your bank if you agree, failing which, your lawyer must cease to continue acting.
In what way does my ID and proof of funds have anything to do with my conveyancing in King's Cross? What am I being asked for?
It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in King's Cross. However these days you will not be able to proceed with any conveyancing deal if you have not handing over proof of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a bank statement. Please note that if you are providing your driving licence as evidence of identification it needs to be both the paper part as well as the photo card part, one is not acceptable in the absence of the other.
Evidence of the source of monies is necessary under Money Laundering Regulations. You should not be offended when you are asked to produce this as your lawyer will need to retain this information on file. Your King's Cross conveyancing solicitor will need to see evidence of proof of funds prior to accepting any money from you into their client account and they will also ask additional queries regarding the source of funds.
It has been four months since my purchase conveyancing in King's Cross concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a conveyancing lawyer in King's Cross for my purchase. Can I check a solicitor's record with the legal regulator?
Anyone may read documented Solicitor Regulator Association (SRA) decisions arising from inquisitions commenced on or after 1 January 2008. Visit Check a solicitor's record. To find information Pre 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The regulator may monitor call for training purposes.
We have selected a King's Cross conveyancing solicitor for our home move (FTB’s) and have spotted in the engagement letter that they are not overseen by the Financial Conduct Authority. Need I be concerned or is that the norm with conveyancing practitioner?
We can't see why they should be. Most solicitor don't lend money. They should be governed by the SRA, who set strict obligations regulating amounts held in their bank.