I am expecting a offer of a home loan from Nat West. I would like to instruct a Licensed Conveyancer in Common Edge. Does the Nat West Conveyancing panel exclude conveyancers regulated by the CLC?
The Nat West approved solicitor list is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
In what way does my ID and proof of funds have anything to do with my conveyancing in Common Edge? What am I being asked for?
Common Edge conveyancing solicitors and indeed property practitioners throughout the UK have a duty under money laundering regulations to check the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to provide two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and proof of address (typically a Utility Bill less than 3 months old).
Proof of source of monies is also necessary in accordance with the money laundering regulations as solicitors are mandated to check that the monies you are using to purchase a property (whether it be the deposit for exchange or the total purchase price where you are buying mortgage free) has come from a reputable source (such as employment savings) as opposed to the fruits of criminal activity.
When reading mumsnet.com for a conveyancing solicitor in Common Edge, many say that I should look for a CQS assured lawyer. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in home ownership transfers, trusted by some of the UK's major mortgage companies. Four years ago the Conveyancing Quality Scheme was officially recognised by the Building Societies Association (BSA). The scheme does not cover licenced conveyancers. Common Edge is one of the many areas in England and Wales where there are CQS solicitors.
How does conveyancing in Common Edge differ for newly converted properties?
Most buyers of new build or newly converted property in Common Edge contact us having been asked by the seller to sign contracts and commit to the purchase even before the property is constructed. This is because house builders in Common Edge usually buy the site, 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 Common Edge or who has acted in the same development.
I need to instruct a conveyancing solicitor for leasehold conveyancing in Common Edge. I happened to chance upon a web site which appears to be the perfect solution If it is possible to get all formalities completed via web that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?