What does my ID and proof of funds have anything to do with my conveyancing in Rochford? Why is this being asked of me?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identification documents of the person or body they are dealing with before they can accept their conveyancing retainer. The Terms of Engagement that you need to sign should confirm this. Your lender will also require certain documents to be viewed. Should you refuse to supply ID verification documents, your lawyer can not take you on as a client.
We're in Rochford, First time buyers buying with a mortgage (lender is UBS , and our solicitor is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Me and my partner are purchasing a property in Rochford. I might seem paranoid but how we can trust a solicitor? On completion day we will need to send money into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
The mortgage over my property is with Leeds Building Society for my property in Rochford. Conveyancing has been completed some time ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Leeds Building Society?
Your original mortgage agreement with Leeds Building Society will provide that you need their approval prior to letting out your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. It may be that Leeds Building Society will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Leeds Building Society directly. You need not do this via a Leeds Building Society conveyancing panel solicitor.
About to purchase house in Rochford. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Aldermore conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Rochford conveyancer is on the Aldermore conveyancing panel.
I decided to have a survey completed on a house in Rochford ahead of appointing lawyers. I have been told that there is a flying freehold aspect to the house. The surveyor advised that some lenders will not issue a loan on this type of home.
It depends who your proposed lender is. Lloyds has different requirements for example to Birmingham Midshires. If you e-mail us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Rochford. Conveyancing will be smoother if you use a solicitor in Rochford especially if they are familiar with such properties in Rochford.
Do I need to be wary that 3rd parties that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a local Rochford conveyancing practice?
As with many service providers, often referrals from relatives can be worth their weight in gold. Nevertheless there are many parties with a vested interest in a conveyancing matter; estate agents, mortgage brokers and lenders may recommend lawyers to instruct. On occasion the lawyers might be known to one of the organisations as being good in their field, but occasionally there is an underlying commercial relationship behind the endorsement. You are at liberty to choose your preferred conveyancer. However, bear in mind that most banks specify a panel list of conveyancers you must use for the lender related work in your home move.
We're novice buyers - agreed a price, yet the selling agent has warned us that the vendor will only go ahead if we instruct their chosen solicitors as they want an ‘expedited deal’. Our preferred option is to instruct a local solicitor used to conveyancing in Rochford
We suspect that the owner is not behind this demand. Should the vendor want ‘a quick sale', alienating a genuine buyer is is going to put the whole deal at risk. Contact the owners directly and explain that (a)you are motivated buyers (b)you are excited to move forward, with finances in place © you do not need to sell (d) you intend to proceed fast (e)however you will continue to use your preferred Rochford conveyancing lawyers - not the ones that will earn their negotiator at the agency a introducer fee or meet his conveyancing figures pre-set by senior management.