What does my ID and proof of funds have anything to do with my conveyancing in Arkley? What am I being asked for?
In order to comply with Money Laundering Regulations any Arkley conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility account evidencing your correct address.
In accordance with Money Laundering Regulations, conveyancing solicitors are duty bound to ascertain not simply the ID of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this will result in your lawyer ending their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to make a disclosure to the relevant authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
is it true that all Arkley solicitor firms on the Lloyds conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Lloyds conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do permit licenced conveyancers on their panel and in that case the practice would be regulated by the CLC.
Last month we had a mortgage agreed in principle with Lloyds. Arkley conveyancing lawyers are chosen. What is the average time that one could expect to receive a mortgage offer from Lloyds?
Some lenders take longer than others. Have Lloyds done the survey? Have you advised Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
UBS have agreed my home loan in principle, my bid on a flat in Arkley has been accepted, what are the next steps?
The estate agent will want to be advised as to your conveyancer's details (ensure that the solicitors are on the bank’s panel). Telephone UBS or the broker and finish off any outstanding documentation. UBS will sellect a valuer who will get in touch with the estate agent or vendor to schedule a slot for the valuation to occur. Once carried out (assuming no problems) it takes approximately a fortnight to get a mortgage offer. UBS will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Arkley.
Due to the input of my in-laws I had a survey completed on a house in Arkley in advance of appointing solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some lenders may refuse to grant a loan on this type of premises.
It varies from the lender to lender. Santander has different instructions for example to Nationwide. Should you wish to telephone us we can check 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 Arkley. Conveyancing will be smoother if you use a solicitor in Arkley especially if they regularly deal with such properties in Arkley.
How easy is it to use the search facility to get a fee calculation from a conveyancing solicitor in Arkley on the approved list for my bank?
Step one is to pick a bank such as National Westminster Bank, The Royal Bank of Scotland or Godiva Mortgages Ltd then specify your preferred area a common one being Arkley. Conveyancing practices in Arkley and across England and Wales should be shown.
My uncle has recommend that I instruct his conveyancers in Arkley. Do I take his recommendation?
No doubt the ideal way to choose a conveyancing solicitor is to get referrals from friends or relatives who have actually previously instructed the conveyancer that you are considering.