Our Caerwent conveyancer has identified a difference when comparing the assumptions in the valuation survey and what is in the title deeds. My solicitor says that he is duty bound to ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s approach legitimate?
Your conveyancing practitioner 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 you.
In what way does my ID and proof of funds have anything to do with my conveyancing in Caerwent? What am I being asked for?
Caerwent conveyancing solicitors and indeed property lawyers accross the UK have an obligation under money laundering regulations to check the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified identification; proof of ID (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill less than 3 months old).
Evidence of source of funds is also required under the money laundering regulations as conveyancers are obliged to ensure that the monies you are using to purchase a property (whether it be the deposit for exchange or the total purchase amount where you are buying mortgage free) has come from legitimate source (such as an inheritance) and is not the product of criminal activity.
I am considering mortgaging my flat in Caerwent, does my lawyer have to be on the Co-operative Conveyancing panel?
In theory, you could use a solicitor that is not on the Co-operative conveyancing panel, but Co-operative would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Should commercial conveyancing searches reveal planned roadworks that could impact a commercial estate in Caerwent?
Many commercial conveyancing solicitors in Caerwent will conduct a SiteSolutions Highways report as it reduces the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Caerwent. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Caerwent.
For each commercial conveyancing transaction in Caerwent it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may cause delays to Caerwent commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Caerwent.
I'm purchasing my first flat in Caerwent with a loan from Britannia. The developers refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep suggested that I not to tell my solicitor about the deal as it may put at risk my loan with the bank. Is this normal?.
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.
My husband and I are new on the property ladder - had an offer accepted, but the property agent informed us that the vendor will only move forward if we use the agent's preferred lawyers as they need an ‘expedited deal’. Our preferred option is to instruct a family solicitor accustomed to conveyancing in Caerwent
We suspect that the seller is not behind this demand. Should the owner want ‘a quick sale', alienating a serious buyer is likely to cause more damage than good. Avoid the agents and go straight to the owners and explain that (a)you are serious purchasers (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you intend to instruct your own,trusted Caerwent conveyancing lawyers - rather thanthose that will give the negotiator at the agency a commission or achieve conveyancing thresholds set by HQ.