We selected a Long Stratton based lawyer for my conveyancing in Long Stratton recently. Upon checking the small print I noteI am on the hook for charges even where the conveyance does not complete. Should I ditch them and use an on-line conveyancing brokerage who offer no completion no cost conveyancing in Long Stratton?
It is usually ‘give and take’ in that if "No Sale No Fee" is advertised then the conveyancing charges will tend to be be more expensive to neutralise those conveyances that abort. Dont forget that these arrangements tend not to cover outlay such as Long Stratton conveyancing search fees.
In what way does my ID and proof of funds have anything to do with my conveyancing in Long Stratton? Is this really warranted?
In order to comply with Money Laundering Regulations any Long Stratton conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility account showing where you reside.
In accordance with Money Laundering Regulations, property lawyers are obliged by law to check not just the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this may lead to your lawyer cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to make a disclosure to the relevant authorities should they believe that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
I have a semi-detached Edwardian house in Long Stratton. Conveyancing lawyer represented me and Aldermore. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold with the exact same property. I'd like to know for sure, how can I find out??
You should review the Freehold register you have again and check the Charges Register as there may be 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 Long Stratton and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with the conveyancing lawyer who conducted the conveyancing.
I am buying a new build house in Long Stratton benefiting from help to buy. The sellers would not reduce the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep advised me not inform my conveyancer about this side-deal as it will affect my loan with Lloyds TSB Bank. Do I keep my lawyer in the dark?.
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 need to retain a conveyancing solicitor for my conveyancing in Long Stratton. I have land on a site which appears to be the perfect answer If it is possible to get all this stuff done via email that would be ideal. Do I need to 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?
When it comes to my conveyancing in Long Stratton should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Long Stratton conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the lawyer's time in submitting the funds this way.