What does my ID and proof of funds have anything to do with my conveyancing in Sawston? Why is this being asked of me?
Sawston conveyancing solicitors as well as nationwide property lawyers accross the UK have an obligation under money laundering regulations to check 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 identification; proof of ID (typically a Passport or Driving Licence) and evidence of address (typically a Bank Statement less than 3 months old).
Evidence of source of funds is also required under the money laundering regulations as lawyers are obliged to ensure that the monies you are using to acquire a property (be it the exchange deposit or the full purchase amount if you are a cash purchaser) has originated from a reputable source (such as an inheritance) rather than the product of criminal activity.
We are buying a 3 bedroom apartment in Sawston with a homeloan from Chelsea Building Society.We have a Sawston conveyancing practitioner but Chelsea Building Society informed us his firm is not on their "panel". It seems we are left with no choice but to instruct a Chelsea Building Society panel lawyer or keep our local solicitor and pay for a Chelsea Building Society panel lawyer to represent them. This seems very unfair; Can we not simply insist that Chelsea Building Society use our lawyer?
Unfortunately,no. The mortgage issued to you contains terms and conditions, a common one being that lawyers needs to be on the Chelsea Building Society approved list. in the past, most banks had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Chelsea Building Society
Will our conveyancer be raising enquiries about flooding during the conveyancing in Sawston.
Flooding is a growing risk for lawyers dealing with homes in Sawston. There are those who buy a property in Sawston, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to give advice on flood risk, however there are a number of checks that can be undertaken by the purchaser or by their lawyers which can give them a better understanding of the risks in Sawston. The standard information supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard inquiry of the owner to determine whether the premises has suffered from flooding. In the event that the premises has been flooded in past and is not notified by the owner, then a buyer may issue a compensation claim as a result of such an incorrect response. A purchaser’s lawyers should also conduct an environmental search. This will disclose whether there is any known flood risk. If so, additional investigations should be carried out.
I opted to have a survey carried out on a house in Sawston ahead of retaining lawyers. I have been advised that there is a flying freehold element to the house. My surveyor has said that some banks will refuse to issue a mortgage on this type of home.
It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. If you contact us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Sawston. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Sawston to see if the conveyancing will be more expensive.
Is it possible to change firm as I need to retain a firm on the Lloyds TSB Bank conveyancing list. I was using a local conveyancing solicitor in Sawston five minutes from me but she is not approved by Lloyds TSB Bank
It would be our pleasure to assist you find a conveyancing solicitor in Sawston on the Lloyds TSB Bank panel. Please note that the law firms that we work with do not pay us fee if you instruct them and are authorised and regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Sawston. In utilising the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Sawston.
All being well we will complete the disposal of our £300,000 apartment in Sawston next Monday. The freeholder has quoted £396 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Sawston?
Sawston conveyancing on leasehold maisonettes often requires the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to address these enquiries most will be willing to assist. They may charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge invoiced by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, otherwise the charge is technically not due. Reality however dictates that you have little option but to pay whatever is demanded if you want to complete the sale of your home.
Sawston Leasehold Conveyancing - A selection of Queries before buying
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It would be prudent to discover as much as you can regarding the company managing the building as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical matters such as the upkeep of the common parts. Don't be shy to ask other people what they think of them. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the relevant party and precisely how they are spending that money. Is there a share of the freehold? This information is important as a) areas may result in problems in the building as the common areas may begin to deteriorate if maintenance remain unpaid b) if the tenants have a dispute with the running of the building you will wish to know about it