Is the fact that my conveyancer in Berkhamsted is not on my mortgage company's solicitor panel that there is a problem with the standard of his conveyancing?
That would more than likely be an incorrect assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Berkhamsted conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
What does my ID and proof of funds have anything to do with my conveyancing in Berkhamsted? Is this really warranted?
Berkhamsted conveyancing solicitors as well as nationwide property lawyers throughout the UK have a duty under Anti-terror and anti-money-laundering rules to verify the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to disclose two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and proof of address (typically a Bank Statement less than 3 months old).
Evidence of the origin of monies is also necessary in accordance with the money laundering regulations as lawyers are duty bound to check that the money you are using to purchase a property (be it the exchange deposit or the full purchase amount if you are buying mortgage free) has originated from legitimate source (such as employment savings) rather than the product of criminal behaviour.
I am buying a new build house in Berkhamsted with the aid of help to buy. The sellers would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep told me not disclose to my solicitor about this extras as it will adversely affect my loan with The Mortgage Works. 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.
I am looking for a leasehold apartment up to £195,000 and found one close by in Berkhamsted I like with amenity areas and transport links nearby, the downside is that it only has 49 remaining years left on the lease. There is not much else in Berkhamsted suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
I have been advised by a few property agents in Berkhamsted to locate a property lawyer on your site. Is there a financial incentive for Estate Agents to offer your lawyers over and above a competitor’s?
We don’t offer any commission for directing people in our direction. We found it would be just too difficult to pay a commission as members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
My mum and dad are unable to locate their Berkhamsted land registry title on the site. They have a vague memory back in the 70’s when they purchased the bungalow there were complications regarding Berkhamsted not being identified on some systems.
The vast majority of premises in Berkhamsted should be revealed. Have you endevoured to search with just the postcode. Normally it should mention all the residences within the postcode. Assuming the property is recorded it will be there with a title number. Where they bought back in the 70’s it's conceivable it may be not yet registered. The address could still be revealed but with the title number shown 'na'. In this scenario you will need to find the original title papers which may be with your parent’s mortgage company.