My husband and I are planning to acquire a property in Nether Stowey and are in fact using a Nether Stowey conveyancing practice. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Skipton Building Society have this afternoon contacted us to advise us that there is now an issue as our Nether Stowey solicitor is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is usual for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Nether Stowey lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
In what way does my ID and proof of funds have anything to do with my conveyancing in Nether Stowey? Is this really warranted?
In order to comply with Money Laundering Regulations any Nether Stowey conveyancing firm will require evidence of your identity in all conveyancing transactions. This is usually dealt with by provision of a passport and an original bank statement or utility account showing where you live.
Under Money Laundering Regulations, conveyancers are duty bound to investigate not only the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. An unwillingness to disclose this will result in your lawyer terminating their retainer 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 consider that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
What will a local search inform me regarding the house my wife and I buying in Nether Stowey?
Nether Stowey conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations for example Searchflow The local search plays an important part in most Nether Stowey conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your property. The search should supply data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
I am purchasing a new build house in Nether Stowey benefiting from help to buy. The developers would not budge the price so I negotiated £7000 of extras instead. The sale representative advised me not disclose to my conveyancer about this deal as it could affect my mortgage with Virgin Money. 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.
My company is intending to lease a unit on the high street. Can you recommend conveyancers offering competitive charges for commercial conveyancing in Nether Stowey for below 1500k?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Nether Stowey, including the sale and acquisition of businesses as well as simply property. If you are looking to purchase or sell a shop, pub, restaurant, office, retail unit or a whole business we can find you the right lawyer. Regarding the fees these will vary based on the structure and complexity of the proposed transaction. Please provide us with your details or email so as to enable us to furnish you with a fixed commercial conveyancing calculation.
As co-executor for the estate of my grandmother I am selling a house in Neath but reside in Nether Stowey. My conveyancer (who is 235 miles awayhas requested that I execute a stat dec prior to the transaction finalising. Could you suggest a conveyancing lawyer in Nether Stowey to witness this legal document for me?
strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will do regardless of whether they are based in Nether Stowey