What does my ID and proof of funds have anything to do with my conveyancing in Brecon? What am I being asked for?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identity of the potential client they are dealing with prior to agreeing to accepting their conveyancing instruction. The Terms of Engagement that you are required to sign should confirm this. Your lender will also require certain documents to be checked. Should you are unwilling to hand over ID verification documents, your lawyer will not be able to take you on as a client.
We previously instructed conveyancing lawyers based in Brecon on the HSBC solicitor panel. They are now charging me a supplemental fee for dealing with the HSBC mortgage. Is this an additional conveyancing fee set by HSBC?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your property lawyer is entitled to levy a fee for this. This fee is not dictated by HSBC but by your Brecon solicitor. Plenty of firms on the HSBC panel will charge an ‘acting for lender’ fee but plenty of firms incorporate it on their overall fee.
I have paid off my mortgage with Coventry BS. I assume I don't need a Brecon conveyancer on the Coventry BS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
Planning on purchasing a flat in Brecon. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Brecon lawyer is on the Virgin Money conveyancing panel.
I got the keys to my home on 16 September and my personal details is not yet registered. Need I be worried? My conveyancing solicitor in Brecon advises it should be formalised in a couple of weeks. Are transfers in Brecon particularly slow to register?
There is nothing unique about conveyancing in Brecon registration formalities. As opposed to being determined by geographic area, timescales can adjust subject to who lodges the application, whether it is in order and whether the Land registry must send notices to any interested persons or bodies. Currently roughly three quarters of submission are fully addressed within 12 days but some can be subject to extensive hold-ups. Registration occurs after the buyer is living at the premises so registration formalities is not usually top priority yet where it is urgent that the the registration takes place urgently then you or your conveyancer could communicate with the Registry to express the reasoning for an expedited registration.
I am purchasing my first flat in Brecon with a mortgage from Bank of Ireland. The developers refused to reduce the amount so I negotiated 6k of additionals instead. The property agent advised me not reveal to my solicitor about the deal as it would impact my loan with Bank of Ireland. Is this normal?.
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 quick, no chain conveyancing. Brecon is where the house is located. Can you shed any light on this issue?
Flying freeholds in Brecon are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Brecon you must be sure that your lawyer goes 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 Brecon may decide 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 premises.
I need to appoint a conveyancing solicitor for sale conveyancing in Brecon. I've chance upon a site which looks to be the ideal offering If it is possible to get all the legals done via web that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?