Our Kingsthorpe solicitor has spotted a discrepancy when comparing the surveyor’s assumptions in the valuation survey and what is revealed within the title deeds. My solicitor informs me that he must check that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action correct?
Your solicitor must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
In what way does my ID and proof of funds have anything to do with my conveyancing in Kingsthorpe? Why is this being asked of me?
You are right in these requests have nothing to do with conveyancing in Kingsthorpe. However these days you will not be able to complete any conveyancing transaction if you have not submitting proof of your identity. This usually takes the form of a either your passport or driving licence and a bank statement. Remember if you are supplying your driving licence as evidence of ID it needs to be both the paper part as well as the photo card part, one is not acceptable without the other.
Proof of your origin of monies is mandated under Money Laundering Regulations. You should not be offended when when this is requested of you as your conveyancer must have this information on record. Your Kingsthorpe conveyancing lawyer will need to see evidence of proof of funds prior to accepting any money from you into their client account and they should also ask additional questions regarding the source of funds.
The Kingsthorpe conveyancing firm that I recently instructed on my house acquisition in Kingsthorpe have without warning closed. I only went with them because I needed a firm on the Bank of Ireland conveyancing panel and my family Kingsthorpe lawyer was not. I paid them 275 plus VAT in advance. What are my options?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Bank of Ireland conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
If you had a top tip for choosing a conveyancing solicitor in Kingsthorpe what would it be?
We would encourage you not to base your choice on the cheapest Kingsthorpe conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. 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.
Have just purchased a probate house at auction in Kingsthorpe. Conveyancing is required. What are my next steps?
Now that you have exchanged you will need to retain a conveyancing lawyer quickly as you now have a fast approaching deadline in which to complete the property. All auction property will have an associated legal set of papers. This will likely include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the auction papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to a leasehold property. You must pass this on to the lawyer working for you ASAP. You also need to ensure that you have funds in order to complete the transaction on the set completion date.
It is unclear whether my bank requires a lease extension. I have called my Kingsthorpe bank branch on numerous occasions and was advised it wasn't an issue and they will lend. My Kingsthorpe conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they refuse to lend based on their published requirements. I simply don't know who is right.
Provided that the property lawyer is on the mortgage company approved list, she or he must comply with the Council of Mortgage Lenders’ Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Is it possible to switch solicitor as I need to instruct a firm on the Platform Home Loans Ltd conveyancing panel. I had appointed a high street conveyancing solicitor in Kingsthorpe round the corner but she is not approved by Platform Home Loans Ltd
We will our best to assist in finding you a conveyancing solicitor in Kingsthorpe on the Platform Home Loans Ltd panel. Please note that the law firms that we work with do not pay us commission if you instruct them and are regulated by the SRA who regulate all conveyancing solicitors in Kingsthorpe. In making use of the find a conveyancing solicitor tool on this site, you can compare costs for conveyancing solicitors in Kingsthorpe and beyond.