I am not well enough to travel far from Okehampton. Is there a reason why all Okehampton solicitors are not on all mortgage company panels?
A decade ago most lenders had an approach to risk which differs from the current day. The FSA in 2010 conducted a thematic review into property fraud which in summary warned lenders: know the lawyers on your panel. As a result, lenders have subsequently looked to extract more data from law firms concerning their processes and the individuals employed by them and set certain criteria such as completing a minimum number of transactions. Many firms have found themselves removed from lender panels even though they had 100% healthy disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms found it impossible meet the minimum volume of transactions the mortgage companies set.
What does my ID and proof of funds have anything to do with my conveyancing in Okehampton? Is this really necessary?
You are right in the requirement set out by your lawyer has nothing to do with conveyancing in Okehampton. However these days you can not proceed with any conveyancing process if you have not providing proof of your identity. Ordinarily this takes the form of a either your passport or driving licence and a bank statement. Remember if you are providing your driving licence as proof of ID it needs to be both the paper part as well as the photo card part, one is not sufficient in the absence of the other.
Evidence of the origin of money is mandated under Money Laundering Regulations. Don’t be offended when you are asked to produce this as your conveyancer must have this information on record. Your Okehampton conveyancing solicitor will need to see evidence of proof of funds before they are able to accept any monies from you into their client account and they may also ask additional questions regarding the origin of monies.
We are selling our house in Okehampton. Does the conveyancer need to be required to be on the Santander conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Santander 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 specifications fairly frequently at the moment.
Due to the input of my in-laws I had a survey completed on a property in Okehampton ahead of appointing lawyers. I have been advised that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies will refuse to grant a mortgage on a flying freehold premises.
It depends who your proposed lender is. HSBC has different requirements from Birmingham Midshires. If you contact 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 Okehampton. Conveyancing may be slightly more expensive based on your lender's requirements.
What is different about your site and alternative online quote calculators for conveyancing in Okehampton?
At this site secure an accurate quote from a Solicitor or Licensed Conveyancer that appreciates the nuances for your conveyancing in Okehampton. As opposed to estate agents and many comparison sites we are not in the business of charging firms a fee if you instruct them for your home move in Okehampton