In what way does my ID and proof of funds have anything to do with my conveyancing in Prestbury? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Prestbury conveyancing firm will require evidence of your identity in all conveyancing transactions. This is usually satisfied by provision of a passport and an original bank statement or utility account evidencing where you live.
Under Money Laundering Regulations, property lawyers are duty bound to ascertain not only the identity of conveyancing clients but also the origin of fund that they receive in respect of any matter. Refusal to disclose this will lead to your lawyer terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to notify the relevant authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
I am considering applying for a Bank of Ireland mortgage for purchase of a new build (under development) in Prestbury with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Bank of Ireland ?
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.
My friend recommended that where I am purchasing in Prestbury I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Prestbury conveyancing searches. It is not a small document of more than thirty pages, listing and setting out important information about Prestbury around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Prestbury Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Prestbury Education with plans and statistics, Local Amenities and other useful data about Prestbury.
I am looking for a flat up to £235,500 and identified one close by in Prestbury I like with amenity areas and transport links nearby, however it only has 49 years on the lease. I can't really find anything else in Prestbury in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years 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 consult your conveyancing lawyer concerning this matter.
I am downsizing from my home. My former solicitors closed down. I would be grateful for any recommendation of a conveyancing firm. Im based in Prestbury if that affects matters.
You should use our search tool to help you find a solicitor for your conveyancing in Prestbury. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
Myself and my fiance have recently had an offer agreed on a property and had an appointment on Monday with HSBC for the mortgage. They have informed me that when it comes to selecting a property lawyer that if they are not on their approved list of conveyancers then we will incur an extra fee of £200. This is because they will then have to select a solicitor to act for them as well as the one we choose to act on our behalf and we will be on the hook for their fees. I have asked HSBC to furnish me with a list so I can obtain estimates only from their approved solicitors but was told that I need to check with each individual solicitor to see if they are on the panel. Is there a list online?
You can enquire of HSBC what their criteria for panel membership is for a conveyancer.Thereafter ask the lawyer of your choice whether they fit that criteria and have they acted on loans for HSBC in the past. Where the answer to those is yes, then just clarify this with HSBC. Alternatively please use our search facility and we may be able to find you a conveyancing practitioner in Prestbury on the approved list for HSBC.