I am not in a position to travel far from Prestatyn. What is the rationale as to why all Prestatyn conveyancers aren't automatically on all bank panels?
Before the recession most mortgage companies exhibited an attitude to risk which differs from the current day. The Financial Services Authority in 2010 instigated a thematic review into mortgage fraud which concluded: know the property lawyers on your panel. Accordingly, mortgage companies have subsequently looked to extract more information from law firms concerning their processes and the staff who work for them and set certain criteria such as completing a minimum amount of transactions. Many firms have found themselves removed from lender panels even though they had 100% healthy disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms found it impossible meet the minimum volume of transactions the lenders set.
What does my ID and proof of funds have anything to do with my conveyancing in Prestatyn? Why is this being asked of me?
Prestatyn conveyancing solicitors and indeed property practitioners accross the UK have a duty under money laundering regulations to check the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and evidence of address (usually a Utility Bill no older than three months).
Evidence of the origin of funds is also necessary in accordance with the money laundering statutes as conveyancers have a duty to investigate that the monies you are utilising to buy a property (whether it be the deposit for exchange or the total purchase amount if you are buying without a mortgage) has originated from a reputable source (such as employment savings) as opposed to the proceeds of illegitimate behaviour.
Do I need to take out insurance to protect me from financial exposure to chancel repairs when buying a property in Prestatyn?
Unless a previous acquisition of the premises completed after 12 October 2013 you could take it that conveyancing practitioners conducting conveyancing in Prestatyn to remain recommending a chancel search and or chancel repair liability policy.
I decided to have a survey completed on a property in Prestatyn ahead of appointing conveyancers. I have been told that there is a flying freehold overhang to the property. The surveyor has said that some lenders will not give a loan on a flying freehold house.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. If you call us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Prestatyn. Conveyancing will be smoother if you use a solicitor in Prestatyn especially if they are accustomed to such properties in Prestatyn.
I am a couple of weeks into a freehold purchase having been recommend to conveyancers by the local agent to perform conveyancing in Prestatyn. I am am extremely frustrated with the quality of service. Could you help me find new conveyancers?
A conveyancer would have to be very poor in order to consider replacing them. Has the mortgage been issued? If so you will need to inform them of the replacement solicitor and ensure the offer are re-sent. Your new solicitor ideally should be on the mortgage company approved list to avoid escalating costs and frustration. That should be your starting point. The find a solicitor tool can help you find a bank approved solicitor for your home move in Prestatyn
What type of property do your Prestatyn conveyancing estimates relate to?
Our conveyancing quotes are only relevant to standard domestic property in England & Wales. Where you have any different requirements for instance industrial or agricultural land or commercial conveyancing in Prestatyn please telephone us to discuss your requirements .