Please help. My Curdworth solicitor is advising me that he is legally obliged toorder Curdworth conveyancing searches asthe firm are on the Virgin Moneysolicitor panel. These Curdworth searches cost a lot of money can this be avoided?
You have limited options available to you. Given that you are taking out a loan with a mortgage company your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancing practitioner would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the CML Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Curdworth conveyancing searches.
In what way does my ID and proof of funds have anything to do with my conveyancing in Curdworth? What am I being asked for?
You are right in the requirement set out by your lawyer has nothing to do with conveyancing in Curdworth. However these days you will not be able to complete any conveyancing transaction without first handing over proof of your identity. Ordinarily this takes the form of a either your passport or driving licence and a council tax bill. Please note that if you are providing your driving licence as evidence of ID it needs to be both the paper element and photo card part, one is not acceptable in the absence of the other.
Verification of the source of money is necessary in accordance with the Money Laundering Regulations. Please do not be offended when you are asked to produce this as your lawyer will need to retain this information on record. Your Curdworth conveyancing solicitor 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 additional questions concerning the source of monies.
When researching consumer advice sites for a cheap lawyer in Curdworth, most say that I must instruct a CQS assured lawyer. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to best practice conveyancing processes via the scheme protocol the standard includes numerous companies who carry out conveyancing in Curdworth.
Forgive me if this question is silly but I am unseasoned as FTB of a garden flat in Curdworth. Do I receive the keys to the premises on completion from my conveyancer? If so, I will instruct a local conveyancing solicitor in Curdworth?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the vendor’s solicitors, and once they have received this, you will be called to receive the keys from the selling Agents and start moving into the property. This tends to happen early afternoon.
I'm the single beneficiary of my late father’s will with all property in now in my sole name, including the house in Curdworth. Conveyancing formalities meant that the Land Registry date was in May. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship will be considered the same way as though I had purchased the property in May. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. Most lenders would take a pragmatic view as this requirement principally exists to pick up on subsales or the wholesaling and assigning of property.
My wife and I have organised the release of further funds on our home loan from Principality as we wish to carry out alterations to our house in Curdworth. Are we obliged to choose a high street Curdworth solicitor on the Principality conveyancing panel to handle the legals?
Principality do not ordinarily require firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality panel.
I'm buying my first flat in Curdworth with a mortgage from Santander. The builders refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep told me not reveal to my conveyancer about the extras as it would impact my loan with the lender. 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.
I opted to have a survey carried out on a house in Curdworth prior to appointing lawyers. I have been advised that there is a flying freehold element to the property. My surveyor advised that some lenders may refuse to give a loan on such a property.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. Should you wish to telephone us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Curdworth. Conveyancing may be slightly more expensive based on your lender's requirements.