What does my ID and proof of funds have anything to do with my conveyancing in Wolsingham? Is this really necessary?
It is indeed that case that these requests have nothing to do with conveyancing in Wolsingham. Nowadays you will not be able to complete any conveyancing process in the absence handing over proof of your identity. This usually takes the form of a either your passport or driving licence and a utility bill. Please note that if you are providing your driving licence as evidence of identification it must be both the paper element and photo card part, one is not acceptable without the other.
Verification of the origin of funds is required under Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancer will need to retain this information on record. Your Wolsingham conveyancing lawyer will need to see evidence of proof of funds prior to accepting any funds from you into their client account and they may also ask further questions regarding the origin of monies.
I have been recommended a conveyancing solicitor in Wolsingham. I I am struggling to find out if they are accepted on the HSBC Bank approved list of lawyers. Could you or the lender confirm if they are on the panel?
The first thing to do is e-mail the lawyer and enquire if they are on the lender panel. Otherwise please call HSBC Bank who may be able to assist.
How does conveyancing in Wolsingham differ for new build properties?
Most buyers of new build premises in Wolsingham contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is constructed. This is because new home sellers in Wolsingham tend to purchase the real estate, 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 accustomed to new build conveyancing in Wolsingham or who has acted in the same development.
I opted to have a survey done on a house in Wolsingham before retaining lawyers. I have been told that there is a flying freehold element to the property. The surveyor advised that some mortgage companies will refuse to give a mortgage on this type of home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. If you e-mail us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Wolsingham. Conveyancing may be slightly more expensive based on your lender's requirements.
Should I go with a Wolsingham conveyancing practitioner who is local to the property I am buying? An old friend can execute the legal work but his firm is located approximately 350miles drive away.
The benefit of a high street Wolsingham conveyancing firm is that you can attend the office to execute documents, deliver your ID and pester them if necessary. They will also have local insight which is a bonus. However it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and the majority were content that must outweigh using an unknown Wolsingham conveyancing solicitor just because they are based in the area.