Our Bridgwater conveyancer has discovered a discrepancy when comparing the assumptions in the home valuation report and what is revealed within the title deeds. My lawyer informs me that he needs to check that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action appropriate?
Your solicitor must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
What does my ID and proof of funds have anything to do with my conveyancing in Bridgwater? What am I being asked for?
Bridgwater conveyancing solicitors and indeed property practitioners throughout the UK have an obligation under money laundering regulations to check the identity of any client with a view to ensure that clients are who they say they are.
Conveyancing clients are required to supply two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill no older than three months).
Proof of the origin of monies is also necessary in compliance with the money laundering regulations as conveyancers are required to ensure that the monies you are utilising to acquire a property (whether it be the deposit for exchange or the full purchase amount where you are buying without a mortgage) has originated from legitimate source (such as employment savings) and is not the product of criminal behaviour.
My wife and I have a renovated Georgian property in Bridgwater. Conveyancing practitioner acted for me and Chelsea Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold with the exact same property. Is it worth asking Chelsea Building Society to clarify?
You need to assess 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bridgwater 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 mortgage companies. You can also check the position with your conveyancing solicitor who conducted the work.
I'm buying a new build house in Bridgwater with a mortgage from Aldermore. The sellers refused to move on the amount so I negotiated 6k of extras instead. The property agent suggested that I not reveal to my conveyancer about this extras as it may impact my mortgage with Aldermore. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
How can the Landlord & Tenant Act 1954 affect my commercial offices in Bridgwater and how can you help?
The particular law that you refer to provides a safeguard to commercial lessees, giving them the legal entitlement to apply to court for a continuation of occupancy at the end of the lease term. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and help with commercial conveyancing in Bridgwater
I am 3 weeks into a leasehold purchase having been recommend to conveyancers by the selling agent to do our conveyancing in Bridgwater. I am am very disappointed with the level of service. Could you you assist me in finding new lawyers?
A lawyer would have to be very bad to suggest changing them. Has the mortgage offer been sent? In the event that it has you will need to inform them of the new contact details and have the loan are re-sent. The conveyancer should be on the banks panel to avoid added costs and frustration. That should be your starting point. Our find a solicitor tool can help you find a bank approved lawyer for your conveyancing in Bridgwater