In what way does my ID and proof of funds have anything to do with my conveyancing in Thames Ditton? Is this really warranted?
To satisfy the Money Laundering Regulations any Thames Ditton conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility account showing your correct address.
Under Money Laundering Regulations, conveyancers are required to ascertain not simply the ID of conveyancing clients but also the source of monies that they receive in respect of any matter. Refusal to disclose this may result in your conveyancer cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to notify the relevant authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
Please explain the implications if my lawyer’s firm is suspended from the Clydesdale Solicitor panel ahead of completing my conveyancing in Thames Ditton?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
It has been 3 months since my purchase conveyancing in Thames Ditton took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I opted to have a survey completed on a property in Thames Ditton ahead of instructing conveyancers. I have been told that there is a flying freehold aspect to the property. My surveyor has said that some banks may not issue a mortgage on such a premises.
It varies from the lender to lender. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Thames Ditton. Conveyancing will be smoother if you use a solicitor in Thames Ditton especially if they are acquainted with such properties in Thames Ditton.
Do I need to be wary that third parties that I am dealing with are encouraging me to use an online conveyancing firm as opposed to a local Thames Ditton conveyancing practice?
As is the case with many professional services, often suggestions from relatives can be extremely useful or valuable. But there are numerous players in a conveyancing transaction; estate agents, financial adviser and mortgage companies might all put forward solicitors to instruct. On occasion the conveyancers might be known to one of the organisations as experts in their field, but sometimes there is an underlying commercial relationship behind the recommendation. You have the discretion to select your own conveyancer. Don't forget that some lenders have an approved list of law firms you must use for the mortgage aspect of your conveyancing.
My brother is purchasing a shared ownership flat in Thames Ditton. He was given a quote by the solicitor recommended by the estate agents totaling £1156 . It was fifteen years ago since I sold and purchased a home and the bill was £440. Have fees really escalated to that extent?
You should e-mail a few local Thames Ditton conveyancing solicitors requesting prices. It is advisable to base your decision not solely on cost, but on promptness and on how comprehensive the reply was.