In what way does my ID and proof of funds have anything to do with my conveyancing in Great Wyrley? Is this really necessary?
You are right in these requests have nothing to do with conveyancing in Great Wyrley. However these days you can not proceed with any conveyancing deal in the absence handing over evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence and a utility bill. Please note that if you are providing your driving licence as proof of ID it needs to be both the paper part and photo card part, one is not sufficient in the absence of the other.
Verification of your origin of monies is necessary in accordance with the Money Laundering Regulations. Don’t be offended when you are asked to produce this as your conveyancer must retain this information on record. Your Great Wyrley conveyancing practitioner will need to see 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 queries concerning the source of monies.
The Great Wyrley conveyancing solicitors that just started acting on my house acquisition in Great Wyrley have without warning shut down. I only went with them because I needed a solicitor on the Leeds Building Society conveyancing panel and my preferred Great Wyrley lawyer was not. I paid them money in advance. What are my options?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Leeds Building Society conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
Is it necessary to take out insurance to cover chancel repairs when buying a property in Great Wyrley?
Unless a prior acquisition of the house completed post 12 October 2013 you can take it that conveyancing practitioners carrying out conveyancing in Great Wyrley to remain recommending a chancel search and or insurance against a claim.
It has been five months since my purchase conveyancing in Great Wyrley completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying a new build house in Great Wyrley with the aid of help to buy. The sellers refused to reduce the price so I negotiated 6k of additionals instead. The house builders rep advised me not to tell my solicitor about this deal as it will affect my mortgage 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 have been on the look out for a flat up to £195,000 and found one close by in Great Wyrley I like with amenity areas and transport links nearby, however it only has 51 years unexpired on the lease. I can't really find anything else in Great Wyrley in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the remaining unexpired lease term will likely be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.