I have just been advised by my IFA that my Walkden the law firm I have appointed is not on the lender Conveyancing panel. How can I check?
The first thing you need to do is to call your Walkden lawyer directly. You lawyer should notify you of the situation. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
My wife and I are getting closer to an exchange on a flat in Walkden and my mum and dad have sent the 10% deposit to my lawyer. I am now told that as the deposit has been sent from someone other than me my conveyancer needs to disclose this to my mortgage company. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I disclosed to the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
The solicitor is obliged to clarify with mortgage company to ensure that they know that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
What does my ID and proof of funds have anything to do with my conveyancing in Walkden? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Walkden conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility account showing where you live.
In accordance with Money Laundering Regulations, conveyancing solicitors are duty bound to ascertain not only the ID of conveyancing clients but also the source of monies that they receive in respect of any matter. An unwillingness to disclose this may lead to your conveyancer cancelling their retainer 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 make a disclosure to the relevant authorities should they consider that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
Will my solicitor be raising enquiries concerning flooding during the conveyancing in Walkden.
Flooding is a growing risk for lawyers specialising in conveyancing in Walkden. Plenty of people will purchase a house in Walkden, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, but there are a number of checks that may be initiated by the buyer or on a buyer’s behalf which will figure out the risks in Walkden. The conventional set of property information forms supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the seller to find out whether the premises has ever been flooded. In the event that flooding has previously occurred which is not revealed by the vendor, then a buyer could issue a compensation claim as a result of such an inaccurate answer. The purchaser’s solicitors will also order an environmental search. This should indicate whether there is any known flood risk. If so, more detailed investigations should be made.
I was recommended by a few selling agents in Walkden to choose a conveyancer on your site. Is there a financial advantage for Estate Agents to market your services ahead of a competitor’s?
We don’t offer any financial incentive for pointing buyers and sellers to this site. We found it would be just too difficult to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
In surfing the world wide web for the term cheap conveyancing in Walkden it shows results of numerous solicitorsin the vicinity. With so much choice what is the best way to find the right conveyancer for purchase transaction?
The best method of choosing a suitable conveyancer is through a personal testimonial, so enquire of friends and those you trust who have bought a property in Walkden or the respected estate agent or mortgage broker. Fees for conveyancing in Walkden vary, so it's a good idea to request a minimum of three estimates from different conveyancers. Make sure that you clarify what costs in the quote includes.