My husband and I are hoping to acquire a home in Prudhoe and are in fact using a Prudhoe conveyancing practice. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Birmingham Midshires have this afternoon contacted us to advise us that they have now hit a problem as our Prudhoe lawyer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Prudhoe lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
We are purchasing our first house. The lawyer has e-mailedto enquire if we would like to take out supplemental conveyancing searches. Frankly we are clueless as to what's appropriate for conveyancing in Prudhoe
The type of Prudhoe conveyancing searches should be dictated primarily on the property, the location, the probability of any of these risks, your familiarity of the area and risks, your overall appetite to risk. What matters is that you adequately appreciate what information each search could give you. You may then decide if you personally think you need that search. Where you are in doubt, ask the conveyancing practitioner to provide guidance.
In what way does my ID and proof of funds have anything to do with my conveyancing in Prudhoe? What am I being asked for?
Prudhoe conveyancing solicitors as well as nationwide property practitioners accross the UK have an obligation under money laundering regulations to check the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to provide two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and evidence of address (typically a Utility Bill no older than three months).
Proof of source of monies is also required in accordance with the money laundering regulations as lawyers are mandated to investigate that the funds you are utilising to buy a property (whether it be the deposit for exchange or the full purchase monies where you are a cash purchaser) has originated from a reputable source (such as employment savings) as opposed to the product of criminal behaviour.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what should have been a simple, chain free conveyancing. Prudhoe is the location of the property. Can you offer any advice?
Flying freeholds in Prudhoe are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Prudhoe you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Prudhoe may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
How do I identify a Prudhoe law firm on the The Mortgage Works conveyancing panel? I have wheels and am willing to travel upto 25kilometers to meet the lawyer.
Feel free to make use of the search on this page. Please pick a mortgage company and your location and you will see a number of Prudhoe conveyancing lawyers locally. We have detailed some Prudhoe conveyancing firms at the bottom of this page and you can ring them to see whether they are on the The Mortgage Works panel
I need to instruct a conveyancing solicitor for some conveyancing in Prudhoe. I've chance upon a site which appears to be the perfect offering If it is possible to get all the legals done via email that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?