Much to our surprise we have been told by our financial adviser that my Waterhouses solicitor is not on the bank Solicitor panel. How can I check?
The first thing you need to do is to contact your Waterhouses lawyer directly. It is reasonable to expect your lawyer to advise you what has happened. 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 Waterhouses lawyer has uncovered an inconsistency between the information in the home valuation report and what is in the title deeds. My solicitor informs me that he is duty bound to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my lawyer’s stance right?
Your lawyer 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 both parties.
What does my ID and proof of funds have anything to do with my conveyancing in Waterhouses? Why is this being asked of me?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to check the identification documents of the person or body they are dealing with prior to agreeing to accepting their conveyancing instruction. The Terms and Conditions that you need to sign will no doubt stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you refuse to supply identification documents, your solicitor can not take you on as a client.
Just acquired a terraced house in Waterhouses , What is the estimated time for the Land Registry to register my proprietorship? My Waterhouses conveyancing solicitor has been very slow, so I want to check the land registry aspects are dealt with.
As far as conveyancing in Waterhouses registration is no faster or slower than the rest of the country. Rather than based on location, timescales can differ depending on the party submitting the application, whether it is in order and if the Land registry must send notices to any other persons or bodies. Currently in the region of 80% of such applications are fully addressed in less than three weeks but occasionally there can be protracted hold-ups. Historically registration is effected once the new owner has moved in to the property thus 'speed' is not always an essential issue yet if it is urgent that the the registration takes place urgently then you or your conveyancer can contact the land registry and explain the circumstances.
How does conveyancing in Waterhouses differ for new build properties?
Most buyers of new build premises in Waterhouses contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is ready to move into. This is because developers in Waterhouses typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Waterhouses or who has acted in the same development.