Unfortunately I am unable to travel far from Denton. Please spell out why all Denton conveyancing practitioners are not on all bank panels?
Even though it may seem unfair for mortgage companies to limit who can represent them, from the public’s or conveyancer’s standpoint, the other side of the coin is that lending institutions are increasingly anxious and consider it imperative to defend themselves against mortgage fraud. As a consequence of this concern mortgage companies are limiting their panel of approved conveyancing lawyers to a size that they are happy to control.
What does my ID and proof of funds have anything to do with my conveyancing in Denton? Is this really necessary?
It is indeed that case that these requests have nothing to do with conveyancing in Denton. Nowadays you can not proceed with any conveyancing process without first handing over proof of your identity. Ordinarily this takes the form of a either your passport or driving licence and a bank statement. Remember if you are providing your driving licence as proof of ID it needs to be both the paper element and photo card part, one is not acceptable in the absence of the other.
Proof of your origin of money is required in accordance with the Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancing solicitor must retain this information on file. Your Denton conveyancing practitioner will require evidence of proof of funds before they are able to accept any funds from you into their client account and they may also ask additional questions regarding the origin of monies.
I'm purchasing a new build house in Denton with a loan from National Westminster Bank. The sellers refused to budge the price so I negotiated 6k of fixtures and fittings instead. The property agent told me not disclose to my solicitor about the side-deal as it may adversely affect my loan with the bank. 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.
Due to the input of my in-laws I had a survey completed on a property in Denton ahead of instructing lawyers. I have been told that there is a flying freehold aspect to the property. Our surveyor advised that some lenders tend refuse to give a loan on such a premises.
It varies from the lender to lender. Santander has different instructions for example to Halifax. If you contact us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Denton. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to retain a conveyancing solicitor for freehold conveyancing in Denton. I happened to land on a web site which seems to have the perfect answer If it is possible to get all formalities completed via web that would be ideal. Should I be concerned? 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?
My brother is purchasing a leasehold flat in Denton. He has received a fee estimate by the property lawyer connected to the estate agents totaling £1250 . It was 9 years ago since I sold and purchased a house and the fee was £495. Have costs really gone up that much?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for example Denton searches, land registry fees, etc)