What does my ID and proof of funds have anything to do with my conveyancing in Shefford? What am I being asked for?
In order to comply with Money Laundering Regulations any Shefford conveyancing firm will require proof of identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility bill showing your correct address.
In accordance with Money Laundering Regulations, property lawyers are obliged by law to check 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 result in your conveyancer terminating their retainer 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 make a disclosure to the appropriate authorities should they believe that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
Having invested time scouring mumsnet.com for a high-quality solicitor in Shefford, most advise that I should use a CQS accredited solicitor. Can you explain what CQS is?
Shefford Conveyancing Quality Scheme practices have achieved certification by the law Society The Law Society created CQS to establish evidence of quality standards in the home moving process. CQS enables buyers and sellers to identify practices that provide a quality residential conveyancing. Shefford is one of locations in England and Wales in which accredited firms have offices. The scheme requires law firms to undergo a strict assessment, compulsory training, self-certification, spot checks and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Legal Ombudsman.
My bid for a property was accepted at auction in Shefford. Conveyancing is required. What happens now?
Having to in every practical sense signed on the dotted line you now have to choose a conveyancing lawyer soon as you will have a pending deadline in which to complete the transaction. Every auction property should have a corresponding legal set of papers. This will include evidence of title and search results. If you have purchased leasehold property the conveyancing papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to a leasehold property. You need to pass this on to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that that you have the requisite funding organised to complete the transaction on the set completion date.
I'm the single beneficiary of my late mum's estate with all property in now in my sole name, including the house in Shefford. Conveyancing formalities meant that the Land Registry date was in May. I want to move. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership may be regarded the same way as though I had purchased the house in May. Is the property unsalable for six months?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. How practical a view mortgage companies take of it, depend on the bank as this clause is chiefly there to pick up on subsales or the quick reselling of property.
I have instructed a Shefford conveyancing practitioner having checked that they are on the Nationwide conveyancing panel. Does my lawyer arrange the survey of the property?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Shefford postcode. As you are getting a mortgage with Nationwide, you could contact them to see if they have a list of approved surveyors in Shefford.
I have been told that property searches are a common reason for obstruction in Shefford conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays in the conveyancing process. Local searches are unlikely to feature in any holding up conveyancing in Shefford.
In my capacity as executor for the estate of my father I am disposing of a house in Monmouth but reside in Shefford. My conveyancer (approximately 300 miles from merequires that I sign a stat dec before completion. Can you recommend a conveyancing solicitor in Shefford to witness and place their company stamp on the document?
strictly speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will do regardless of whether they are Shefford based
My partner and I are purchasing a garden flat in Shefford. When we first instructed conveyancing practitioner, they told us that they were on all major UK mortgage company panels. The financial adviser called just now to say that they don't seem to be on the Clydesdale approved list. Were it to be true, what should we do? Do we just find a different conveyancing practitioner that is on their approved list or do we pay for separate representation, with Clydesdale appointing their own approved conveyancing practitioner.
Where you are buying a property with the assistance of a mortgage it is usual for the purchaser’s lawyers to also represent the purchaser's lender. In order to act for a bank or building society a solicitor has to be on that lender's list of approved lawyers. An application has to be made by the conveyancing practitioner to the lender to become a member of the lender's panel and there are increasingly strict criteria which the lawyer has to satisfy. Some banks now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your conveyancer should contact Clydesdale to discover 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 don't have to instruct a firm on Clydesdale's conveyancing panel as you are at liberty to use your preferred Shefford lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.