I am not in a position to travel far from Loxford. Is there a reason why all Loxford conveyancing practitioners are not on all bank panels?
As unjust as it may appear for mortgage companies to limit who can represent them, from the public’s or conveyancer’s point of view, the other side of the coin is that mortgage companies are increasingly anxious and feel it imperative to protect them from mortgage fraud. As a result of this concern banks have consolidated their panel of approved conveyancing lawyers to a size that they are happy to control.
In what way does my ID and proof of funds have anything to do with my conveyancing in Loxford? Is this really warranted?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Loxford. However these days you will not be able to complete any conveyancing process if you have not handing over proof of your identity. This usually takes the form of a either your passport or driving licence and a council tax bill. Please note that if you are supplying your driving licence as proof of ID it needs to be both the paper element as well as the photo card part, one is not acceptable without the other.
Proof of the origin of money is mandated under Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancer will need to retain this information on file. Your Loxford conveyancing lawyer will need to see evidence of proof of funds prior to accepting any money from you into their client account and they should also ask additional queries concerning the origin of monies.
I am considering mortgaging my property in Loxford, does my lawyer have to be on the Bank of Ireland Conveyancing panel?
In theory, you could use a solicitor that is not on the Bank of Ireland conveyancing panel, but Bank of Ireland would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
How does conveyancing in Loxford differ for newly converted properties?
Most buyers of new build property in Loxford approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because developers in Loxford usually purchase 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 used to new build conveyancing in Loxford or who has acted in the same development.
I decided to have a survey carried out on a property in Loxford ahead of retaining solicitors. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies may not issue a loan on a flying freehold premises.
It varies from the lender to lender. HSBC has different instructions from Birmingham Midshires. Should you wish to telephone us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Loxford. Conveyancing will be smoother if you use a solicitor in Loxford especially if they are acquainted with such properties in Loxford.
What is the best way to find the right lawyer for my conveyancing in Loxford ?
First ask your friends and family who they would recommend. Option 2 is to search the web for conveyancing in Loxford. Telephone two or three from the list and ask them to send you their conveyancing fees and speak to the lawyer who will handle your conveyancing before you commit. Third is to use our search tool to assist you in finding the right lawyers taking into account your unique factors including location,speed, complexity and who the proposed mortgage company is.Resist the temptation to appoint lowest cost conveyancing solicitors in Loxford