Just been in touch with my conveyancing solicitor in Bangor who acted for me 18 months ago requesting a conveyancing quote based on an identical type of house move (a leasehold residence and a freehold premises) of similar values with a home loan from Alliance & Leicester . It looks as though am now being quoted twice the amount. Am I right to be tempted to shop around for an alternative conveyancer?
The estimate does seem a tad steep. If you you were to look around you could decrease the fees slightly by perhaps a hundred pounds. On the other hand, if you were content with the legal work the firm provided you mightlive to rue choosing an a cheaper lawyer. Remember to ensure the firm can represent Alliance & Leicester . You can make use of our search tool to find a Bangor conveyancing firm on the Alliance & Leicester member panel, which can often include conveyancing solicitors in Bangor.
What does my ID and proof of funds have anything to do with my conveyancing in Bangor? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Bangor conveyancing firm will require evidence of your identity in all conveyancing matters. This is usually dealt with by provision of a passport and an original bank statement or utility account showing your correct address.
In accordance with Money Laundering Regulations, conveyancing solicitors are required to check not simply the ID of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this may result in your solicitor cancelling their relationship 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 inform the relevant authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
Me and my brother have a 4 bedroom Georgian house in Bangor. Conveyancing lawyer represented me and Bank of Scotland. I did a free Land Registry search last week and there are two entries: the first freehold, the second leasehold with the exact same address. Is it worth asking Bank of Scotland to clarify?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bangor and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with the conveyancing solicitor who completed the work.
I'm buying my first flat in Bangor benefiting from help to buy. The sellers refused to budge the price so I negotiated £7000 of additionals instead. The house builders rep suggested that I not to tell my solicitor about this deal as it will impact my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a straight forward, chain free conveyancing. Bangor is the location of the property. Is there any guidance you can give?
Flying freeholds in Bangor are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bangor you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bangor 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 property.
I have been sourcing a conveyancing solicitor in Bangor for my home move. Is it possible to review a firm’s complaints history with the legal regulator?
Anyone may read presented Solicitor Regulator Association (SRA) determinations arising from inquisitions commenced on or after Jan 2008. Visit Check a solicitor's record. To find information about the period before 1 January 2008, or to check a firm's history, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The regulator may recorded call for training reasons.