What does my ID and proof of funds have anything to do with my conveyancing in West Brompton? Is this really necessary?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in West Brompton. However these days you will not be able to proceed with any conveyancing transaction in the absence providing evidence of your identity. This usually takes the form of a either your passport or driving licence as well as a council tax bill. Remember if you are providing your driving licence as proof of identification it needs to be both the paper part and photo card part, one is not acceptable without the other.
Proof of your source of funds is required in accordance with the Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancing solicitor must retain this information on record. Your West Brompton conveyancing lawyer will require evidence of proof of funds prior to accepting any money from you into their client account and they may also ask additional questions concerning the source of funds.
My fiance and I are hoping to buy a newly converted flat in West Brompton with a homeloan from Coventry Building Society.We like our West Brompton conveyancing solicitor but Coventry Building Society says his firm is not on their approved list of member firms. we are left little option but to use a Coventry Building Society panel solicitor or keep our high street solicitor and fork out for a Coventry Building Society panel lawyer to act for them. This seems very unfair; Can we not simply insist that Coventry Building Society use our lawyer?
Unfortunately,no. The mortgage offered to you contains various provisions, a common one being that conveyancers will be on the Coventry 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 Coventry Building Society
If you had a top tip for selecting a conveyancing solicitor in West Brompton what would it be?
It would be unwise to be swayed by the cheapest West Brompton conveyancing quote. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I am assisting my mother sell her flat in West Brompton. Will the solicitor commission the energy performance certificate or do I organise this?
Following the abolition of HIPs, energy assessments remained a required part of moving property. An energy performance certificate needs to be to hand in advance of the property being marketed. It is not a task that lawyers normally organise. If you are instructing a West Brompton conveyancing lawyer they might be willing to arrange energy assessments given their contacts with reputable West Brompton assessors
I have decided to exercise my right to buy my property in West Brompton off the council. I have a mortgage agreed with Santander. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Santander, you will need to appoint a solicitor on the Santander conveyancing panel.
Are there restrictive covenants that are commonly identified during conveyancing in West Brompton?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in West Brompton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm refinancing my existing property to a buy to let loan with National Westminster Bank and intend to use the remaining equity as a down payment on further property. The neighborhood we are talking about is West Brompton. Will your solicitors be able to act for both sets of banks and tie in the transactions?
Do use our search tool on this page to be sure that the conveyancers are approved by both mortgage companies. Assuming that they are the lawyer should be able to tie up the two deals but you should talk with you lawyer and communicate your desired outcome and requirements.
My 20yr old son is about to join the property ladder, he had his mortgage in principle. One the offer was accepted on house we rang the building society to progress the mortgage application. I was very surprised to hear that mortgage companies do not accept all lawyer, they need to be on their approved list, is this legal?
Banks ordinarily imposes restrictions either the type or the number of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any West Brompton solicitor on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.