In what way does my ID and proof of funds have anything to do with my conveyancing in Bollington? Why is this being asked of me?

It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Bollington. However these days you will not be able to complete any conveyancing deal without first handing over evidence of your identity. This usually takes the form of a either your passport or driving licence plus a bank statement. Please note that if you are supplying your driving licence as proof of identification it must be both the paper part as well as the photo card part, one is not satisfactory in the absence of the other.

Proof of the source of funds is mandated in accordance with the Money Laundering Regulations. Don’t be offended when you are asked to produce this as your conveyancing solicitor will need to retain this information on record. Your Bollington conveyancing solicitor will need to see evidence of proof of funds prior to accepting any monies from you into their client account and they may also ask further queries regarding the source of funds.

I am helping my step-mother sell her flat in Bollington. Does the conveyancing solicitor commission an energy assessment or do I organise this?

Following the abolition of Home Information Packs, EPC’s became a mandatory element of moving house. An energy performance certificate must be to hand in advance of the property being marketed. This is not something that law firms normally organise. If you are using a Bollington conveyancing lawyer they might be able to arrange EPC’s due to their relationships with reputable Bollington assessors

Is it the case that all Bollington solicitors on the TSB conveyancing panel are regulated by the SRA?

As solicitors, in order to be on the TSB conveyancing panel they would need to be regulated by the SRA. The majority of lenders do permit licenced conveyancers on their panel and in such a situation the firms would be regulated by the Council of Licensed Conveyancers.

We had selected conveyancing lawyers locally in Bollington on the TSB solicitor approved list. They have just billed me a further amount for handling the TSB mortgage. Is this a supplemental conveyancing fee specified by TSB?

Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your lawyer can levy a fee for this. This charge is not dictated by TSB but by your Bollington conveyancer. Some firms on the TSB panel will quote an ‘acting for lender’ fee and others do not.

How does conveyancing in Bollington differ for newly converted properties?

Most buyers of new build premises in Bollington come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because builders in Bollington tend to acquire 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 conveyancers 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 Bollington or who has acted in the same development.

Am I right to be suspicious by brokers that I am dealing with are recommending an online conveyancing firm as opposed to a local Bollington conveyancing company?

As is the case with many professional services, often referrals from family and friends can be worth their weight in gold. Yet there are numerous players in a conveyancing deal; estate agents, mortgage brokers and lenders may suggest lawyers to retain. Sometimes these solicitors might be known to one of the organisations as being good in their field, but occasionally there is an underlying financial incentive behind the endorsement. You are at liberty to select your own conveyancer. Don't forget that the majority of mortgage providers operate an approved list of law firms you have to use for the mortgage related work in your house move.

The mortgage broker has recommended their lawyer for my conveyancing in Bollington - won’t it be advisable to just use them?

It is not always the case and you are entitled to instruct whichever lawyer you decide for your Bollington conveyancing. The conveyancer suggested by a 3rd party adviser may not necessarily be the best lawyer, they may put forward their preferred conveyancing firm who are based remotely. In this instance you may not have contact with your conveyancing practitioner and due to the lack of continuity in the transaction, it may be difficult to obtain progress reports.