What does my ID and proof of funds have anything to do with my conveyancing in Wisbech? What am I being asked for?
In order to comply with Money Laundering Regulations any Wisbech 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 bill showing where you live.
In accordance with Money Laundering Regulations, conveyancers are obliged by law to investigate not just the ID of conveyancing clients but also the source of the money that they receive in respect of any matter. An unwillingness to disclose this may result in your lawyer cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to notify the relevant authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
In researching mumsnet.com for a cheap solicitor in Wisbech, most advise that I must look for a CQS accredited solicitor. 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 leading 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. Wisbech is one of the many areas of the UK where there are Accredited solicitors.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Wisbech is the location of the property. Is there any advice you can impart?
Flying freeholds in Wisbech are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wisbech you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wisbech may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.