Can you help? My Stone solicitor is advising me that he is legally obliged toorder Stone conveyancing searches asthe firm are on the HSBCsolicitor panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a bank your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Stone conveyancing searches.
In what way does my ID and proof of funds have anything to do with my conveyancing in Stone? Why is this being asked of me?
Stone conveyancing solicitors and indeed property lawyers accross the UK have an obligation under money laundering regulations to check the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and proof of address (typically a Utility Bill less than 3 months old).
Confirmation of the origin of funds is also necessary under the money laundering statutes as solicitors are obliged to investigate that the funds you are utilising to buy a property (whether it be the deposit for exchange or the full purchase monies if you are a cash purchaser) has come from legitimate source (such as employment savings) and is not the product of criminal activity.
I am buying a right to buy a flat in Stone. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Stone you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Stone.
I used Arc property Solicitors a few years past for my conveyancing in Stone. Now, I need the documents but cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Stone of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking for a flat up to £235,500 and found one close by in Stone I like with a park and transport links in the vicinity, the downside is that it's only got 61 years unexpired on the lease. There is not much else in Stone for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a home loan that many years will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
My partner has urged me to instruct his conveyancing solicitors in Stone. Should I use them?
There are no two ways about it it’s preferable to find a conveyancing practitioner is to seek referrals from friends or family who have previously instructed the solicitor that you are are thinking of instructing.