What does my ID and proof of funds have anything to do with my conveyancing in Feltham? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Feltham conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility account evidencing your correct address.
In accordance with Money Laundering Regulations, property lawyers are duty bound to investigate not only the identity of conveyancing clients but also the source of monies that they receive in respect of any matter. Refusal to disclose this will result in your conveyancer terminating their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to notify the relevant authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
I have a 4 bedroom Georgian house in Feltham. Conveyancing lawyer represented me and Coventry Building Society. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the exact same address. I'd like to know for sure, how can I find out??
You should 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Feltham and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with your conveyancing solicitor who conducted the conveyancing.
I'm purchasing my first flat in Feltham with the aid of help to buy. The developers refused to budge the price so I negotiated £7000 of additionals instead. The estate agent told me not disclose to my lawyer about the side-deal as it would impact my mortgage with the lender. 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.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Feltham is the location of the property. Can you offer any guidance?
Flying freeholds in Feltham are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Feltham you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Feltham may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I'm remortgaging my primary house to a buy to let mortgage with Barnsley Building Society and I will use the ballance of the raised equity as a deposit on a second house. The area we are interested in is Feltham. Will your solicitors be able to act for the two lenders and link together the conveyances?
Do use our search tool on this page to be sure that the lawyers are approved by both lenders. Assuming that they are the lawyer should be able to connect the two transactions but you should talk with you lawyer and make clear your desired outcome and needs.
My step-father has suggested that I use his conveyancers in Feltham. Should I find my own property lawyer?
No doubt the best way to select a conveyancing solicitor is to get guidance from friends or relatives who have actually previously instructed the firm you're contemplating using.