What does my ID and proof of funds have anything to do with my conveyancing in Lincoln? Is this really warranted?
Lincoln conveyancing solicitors as well as nationwide property practitioners accross the UK have a duty under Anti-terror and anti-money-laundering rules to check the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients will need to produce two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill less than 3 months old).
Proof of source of funds is also necessary under the money laundering regulations as lawyers are obliged to check that the money you are using to buy a property (be it the exchange deposit or the total purchase price if you are buying mortgage free) has come from legitimate source (such as an inheritance) as opposed to the fruits of criminal activity.
I am buying a semi-detached house in Lincoln. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Lincoln you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Lincoln.
There are plenty of conveyancing solicitors in Lincoln but how do I know who I should use?
It would be unwise to be swayed by the lowest Lincoln conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
is it true that all Lincoln solicitors on the Nationwide conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Nationwide approved list of solicitors they would need to be regulated by the SRA. The majority of mortgage companies do permit licenced conveyancers on their panel in which case such organisation would be overseen by the Council of Licensed Conveyancers.
I am expecting a AIP from Santander this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Santander recommend any Lincoln solicitors on the Santander conveyancing panel, or is it better to go independently?
You will need to appoint Lincoln solicitors independently although you'll need to choose one on the Santander conveyancing panel. The solicitor represents both you and Santander through the process.
It has been five months following my purchase conveyancing in Lincoln concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. 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 asset 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 have been on the look out for a flat up to £305k and identified one round the corner in Lincoln I like with amenity areas and transport links nearby, however it's only got 51 years on the lease. I can't really find anything else in Lincoln suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a mortgage the remaining unexpired lease term may be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
I need to instruct a conveyancing solicitor in Lincoln for my home move. Is it possible to see a solicitor's complaints history with the legal regulator?
You may find documented Solicitor Regulator Association (SRA) determinations arising from investigations from 2008 onwards. Go to Check a solicitor's record. To find records Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, call +44 (0)121 329 6800. The regulator could recorded call for training reasons.