IfI were to purchase a freehold homein Hatch and Old Basing for cash and have no survey and no conveyancing searches how much could I expect to to save on my conveyancing in Hatch and Old Basing?
The only saving you would achieve is the Hatch and Old Basing conveyancing searches. The property lawyer still got to do everything else - money laundering, liaising with your sellers solicitor, stamp duty return, register the title etc. A slight saving might be made by not having to register a mortgage but it will not be meaningful.
What does my ID and proof of funds have anything to do with my conveyancing in Hatch and Old Basing? Is this really warranted?
Hatch and Old Basing conveyancing solicitors as well as nationwide property lawyers accross the UK have an obligation under Anti-terror and anti-money-laundering rules to check the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and proof of address (usually a Utility Bill less than 3 months old).
Evidence of source of funds is also required in accordance with the money laundering statutes as conveyancers are mandated to check that the funds you are using to purchase a property (whether it be the deposit for exchange or the total purchase price if you are a cash purchaser) has originated from a reputable source (such as employment savings) as opposed to the fruits of illegitimate activity.
Due to the encouragement of my in-laws I had a survey completed on a house in Hatch and Old Basing prior to retaining solicitors. I have been told that there is a flying freehold aspect to the house. The surveyor has said that some lenders will not issue a loan on a flying freehold house.
It depends who your proposed lender is. HSBC has different instructions from Nationwide. If you contact us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Hatch and Old Basing. Conveyancing may be slightly more expensive based on your lender's requirements.
My partner has urged me to use his lawyers for conveyancing in Hatch and Old Basing. Should I use them?
Much as we are happy to recommend a Hatch and Old Basing conveyancing lawyer it’s preferable to select a conveyancing solicitor is to get referrals from friends or relatives who have actually experience in using the conveyancer that you are considering.
At last I have had an offer on an apartment in Hatch and Old Basing accepted, but there is a chain. The current proprietors have offered on somewhere, although it’s not yet tied up, and are looking at other flats in the pipeline. I have selected a nearby conveyancing solicitor in Hatch and Old Basing. What should be my next step? At what stage should I apply for the mortgage with Co-operative?
It is usual to have anxieties where there is a chain given your reluctance to incur costs prematurely (mortgage application is in the region of £1k, then survey, Hatch and Old Basing conveyancing search charges, etc). First, you should ensure that your property lawyer is on the Co-operative conveyancing panel. Regarding the subsequent steps this very much depends on the specifics of your case, desire for the property and on the state of the market. During a rising market the majority of buyers would apply for a home loan with Co-operative and arrange for the valuation and only if it was satisfactory would they ask their solicitor to proceed with searches.