The sellers of the house we are hoping to buy are using a conveyancing firm in Caerwys who has recommended a preliminary contract with a non-refundable deposit of 5k. Are such agreements generally advanced for Caerwys conveyancing transactions?
Exclusivity contracts are contracts binding a property vendor and prospective acquirer granting the buyer a ‘clear field’ to purchase the premises within a prescribed time frame. Essentially, a lock out is a document specifying that you should be issued with a contract at a later date being the main conveyancing contract. It tends to be used for buyer protection though in some cases, the vendor may stand to benefit from such agreements as well. There are numerous pros and cons to having an agreement but you need to check with your lawyer but note that it may end up incurring more in conveyancing charges. For these reasons these contracts are not popular when it comes to conveyancing in Caerwys.
What does my ID and proof of funds have anything to do with my conveyancing in Caerwys? Is this really necessary?
You are right in the requirement set out by your lawyer has nothing to do with conveyancing in Caerwys. However these days you will not be able to complete any conveyancing transaction in the absence supplying proof of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a utility bill. Remember if you are providing your driving licence as proof of ID it must be both the paper part and photo card part, one is not acceptable in the absence of the other.
Verification of the source of monies is mandated under Money Laundering Regulations. Don’t be offended when you are asked to produce this as your conveyancer must retain this information on file. Your Caerwys conveyancing practitioner will need to see evidence of proof of funds prior to accepting any money from you into their client account and they will also ask further questions concerning the source of monies.
Can you point me to a directory of Lloyds panel solicitors in Caerwys on the Building Society Association’s Website?
No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association sites. Very few lenders make their panel listings open the public on the web. Where you are looking for a Caerwys property lawyer on the Lloyds please use our facility.
Two weeks ago we had a mortgage agreed in principle with Bank of Ireland. Caerwys conveyancing solicitors were instructed. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
There is no definitive answer here. Have Bank of Ireland done the valuation? Have you informed Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
The formalities of my remortgage has taken place for my property in Caerwys. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I used Arc property Solicitors a few years past for my conveyancing in Caerwys. Now, I need my files but cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Caerwys of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am purchasing a new build house in Caerwys with a loan from Coventry Building Society. The sellers would not move on the amount so I negotiated 6k of additionals instead. The property agent told me not inform my solicitor about this deal as it would put at risk my loan with Coventry Building Society. 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 decided to have a survey done on a property in Caerwys ahead of retaining lawyers. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some banks will refuse to give a mortgage on this type of property.
It varies from the lender to lender. HSBC has different requirements from Nationwide. If you call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Caerwys. Conveyancing may be slightly more expensive based on your lender's requirements.