I was informed today by my broker that my Osidge solicitor is not on the bank Solicitor panel. What can I do to be sure if this is correct?
The first thing you need to do is to contact your Osidge conveyancer. It is reasonable to expect your lawyer to inform you of the situation. Where they are not on the panel they may recommend you to a Osidge conveyancing firm that is on the conveyancing panel for your lender.
My lawyer has discovered a a problem with the lease for the flat we are buying in Osidge. The seller’s lawyers have offered defective title insurance as a solution. We are happy with insurance and will cover the costs. Our property lawyer says that he must be satisfied that the mortgage company is happy with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
In what way does my ID and proof of funds have anything to do with my conveyancing in Osidge? Why is this being asked of me?
It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Osidge. However these days you can not proceed with any conveyancing process in the absence supplying proof of your identity. This usually takes the form of a either your passport or driving licence plus a bank statement. Please note that if you are providing your driving licence as proof of ID it must be both the paper part and photo card part, one is not satisfactory without the other.
Proof of the origin of monies is mandated in accordance with the Money Laundering Regulations. Don’t be offended when when this is requested of you as your lawyer must have this information on file. Your Osidge conveyancing lawyer 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 will also ask further questions concerning the origin of monies.
The deeds to our home are lost. The lawyers who dealt with the conveyancing in Osidge 10 years ago are no longer around. What are my options?
Nowadays there are duplicates made of almost everything, and your conveyancer should know exactly where to find all the appropriate documentation so you may purchase or sell your property without any difficulty. If copies can’t be found, your conveyancer can arrange cover in the form of insurance or indemnities against possible claims on the premises.
I'm buying a new build house in Osidge with a mortgage from Alliance & Leicester . The sellers refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The sale representative advised me not reveal to my lawyer about the side-deal as it may affect my loan with Alliance & Leicester . 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 brother has recommend that I use his conveyancers in Osidge. Do I follow his guidance?
No doubt the best way to find a conveyancing solicitor is to get recommendations from friends or relatives who have used the solicitor that you are considering.