What does my ID and proof of funds have anything to do with my conveyancing in Needham Market? Is this really warranted?
In order to comply with Money Laundering Regulations any Needham Market conveyancing firm will require proof of identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility bill evidencing your correct address.
Under Money Laundering Regulations, property lawyers are duty bound to investigate not only the identity of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this will lead to your solicitor terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to make a disclosure to the relevant authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
I appreciate that there are debates on Chancel Insurance on online forums. Do I need this when acquiring a property in Needham Market? or Apparently there is a law dating back centuries that could mean that homeowners living in a parish church boundary will be compelled to contribute towards maintenance to the chancel within the church. Is this appropriate for conveyancing in Needham Market?
Unless a previous purchase of the house took place post 12 October 2013 you may expect lawyers delivering conveyancing in Needham Market to continue to advocate a chancel search and or chancel repair liability policy.
Me and my brother have a 4 bedroom Edwardian house in Needham Market. Conveyancing practitioner represented me and Godiva Mortgages Ltd. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You need to 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Needham Market and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with the conveyancing practitioner who carried out the work.
I am buying a new build house in Needham Market with a mortgage from Lloyds TSB Bank. The developers would not budge the price so I negotiated 6k of additionals instead. The property agent told me not to tell my solicitor about the side-deal as it will put at risk my mortgage with Lloyds TSB 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.
I am thinking of appointing a conveyancing practitioner in Needham Market for my sale. Can I see a firm’s record with the legal regulator?
Members of the public may find presented Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Visit Check a solicitor's record. For details about the period before 1 January 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The SRA could recorded telephone calls for training purposes.
My mortgage broker has recommended their conveyancing practitioner for my conveyancing in Needham Market - Is it not simpler better to just use them?
It is not always the case and you are entitled to use whichever solicitor of your choosing for your Needham Market home move. A solicitor put forward by an estate agent may not necessarily be the right conveyancer, they may recommend their preferred conveyancing firm who are based remotely. In this instance you may not have contact with your solicitor and due to the lack of continuity in the transaction, it may be difficult to obtain updates.