I can't travel far from Desford. Is there a reason why all Desford conveyancing practitioners aren't included on all lender panels?
Even though it may seem unfair for lenders to limit who can represent them, from the public’s or conveyancer’s point of view, the other side of the coin is that banks are becoming ever more anxious and regard it essential to protect them from mortgage fraud. As a consequence of this concern mortgage companies are limiting their conveyancing panel to a size that they are happy to control.
Do the conveyancing solicitors Indexed on your site handle auction conveyancing in Desford?
There are a number of auction solicitors we can put you in touch with those conducting auction conveyancing. Desford is one of our areas of in which our lawyers have a presence.
What does my ID and proof of funds have anything to do with my conveyancing in Desford? Is this really warranted?
It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Desford. However these days you can not complete any conveyancing transaction in the absence providing proof of your identity. Ordinarily this takes the form of a either your passport or driving licence and a bank statement. Please note that 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 satisfactory in the absence of the other.
Verification of your source of monies is required in accordance with the Money Laundering Regulations. You should not be offended when when this is requested of you as your lawyer must have this information on record. Your Desford conveyancing practitioner will require evidence of proof of funds before they are able to accept any funds from you into their client account and they should also ask further questions regarding the source of monies.
I am selling my apartment in Desford. Does the solicitor have to be on the Kent Reliance conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Kent Reliance conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
I happen to be the only beneficiary of my late father’s will with all property in now in my sole name, including the my former home in Desford. The Desford property was put into my name in October. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship may be regarded the same way as though I had purchased the property in October. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. Most mortgage companies would take a pragmatic view as this clause is chiefly there to pick up on the purchase and immediately sell or the flipping of property.
We have a mortgage agreed in principle with Nationwide. Desford conveyancing lawyers have been appointed. What is the average time that one could expect to receive a mortgage offer from Nationwide?
There is no definitive answer here. Have Nationwide completed the valuation? Have you informed Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
About to purchase flat in Desford. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Lloyds conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Desford conveyancing practitioner is on the Lloyds conveyancing panel.