My wife and I are looking to buy a property in Sandringham and are in fact using a Sandringham conveyancing practice. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Bank of Ireland have this morning contacted us to advise us that there is now an issue as our Sandringham solicitor is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit of a mortgage it is conventional 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 Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Sandringham solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
What does my ID and proof of funds have anything to do with my conveyancing in Sandringham? What am I being asked for?
Sandringham conveyancing solicitors as well as nationwide property lawyers accross the UK have a duty under money laundering regulations to verify the identity of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill less than 3 months old).
Confirmation of the origin of monies is also necessary in accordance with the money laundering statutes as conveyancers are mandated to check that the funds you are utilising to purchase a property (whether it be the deposit for exchange or the full purchase monies if you are buying mortgage free) has come from a reputable source (such as employment savings) rather than the fruits of illegitimate activity.
There are plenty of conveyancing solicitors in Sandringham but how do I know who I should use?
It would be unwise to be seduced by the cheapest Sandringham conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
My father advised me that in purchasing a property in Sandringham there may be various restrictions affecting the ability to carry out external changes to the property. Is this right?
We are aware of a number of properties in Sandringham which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Sandringham should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Does a directory service exist listing Leeds Building Society panel solicitors in Sandringham on the Council of Mortgage Lender’s Website?
No. There is no such directory service on the CML or Building Society Association websites. A small selection of lenders make their panel listings visible on the web. If you are looking for a Sandringham lawyer on the Leeds Building Society please use our tool.
Me and my brother purchased a 4 bedroom Edwardian house in Sandringham. Conveyancing practitioner acted for me and Birmingham Midshires. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold under the matching property. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Sandringham and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with the conveyancing solicitor who conducted the purchase.
I am looking into buying my first house which is in Sandringham and I am already nervous. I couldn't find anything specific about Sandringham. Conveyancing will be needed in due course but do you know about the Sandringham area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Sandringham. In the meantime here are some basic statistics that we found
We're FTB’s - agreed a price, yet the property agent told us that the owners will only proceed if we appoint the agent's recommended solicitors as they want a ‘quick sale’. We would rather use a family solicitor accustomed to conveyancing in Sandringham
It is improbable the sellers are behind this. If they require ‘a quick sale', alienating a motivated buyer is is going to put the whole deal at risk. Contact the sellers directly and make the point that (a)you are motivated purchasers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)however you are going to appoint your own,trusted Sandringham conveyancing solicitors - not the ones that will earn the estate agent a referral fee or meet his conveyancing targets set by corporate headquarters.