What does my ID and proof of funds have anything to do with my conveyancing in Sea Mills? Why is this being asked of me?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing retainer. The Terms of Engagement that you are required to sign will no doubt reaffirm this. Your lender will also require certain documents to be checked. If you are unwilling to hand over identification documents, your conveyancer would not be able to act for you.
is it true that all Sea Mills conveyancing solicitors on the Kent Reliance conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Kent Reliance conveyancing panel they would need to be regulated by the SRA. The majority of banks do permit licenced conveyancers on their panel and in such a situation the organisation would be governed by the Council of Licensed Conveyancers.
We are getting a further advance on our mortgage from HSBC as we wish to carry out renovations to our home in Sea Mills. Do we need to appoint a nearby Sea Mills solicitor on the HSBC conveyancing panel to handle the legals?
HSBC would not normally appoint firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC list.
Intending to buy a apartment in Sea Mills. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Co-operative conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Sea Mills conveyancing practitioner is on the Co-operative conveyancing panel.
Should commercial conveyancing searches reveal planned roadworks that may affect a commercial premises in Sea Mills?
Its becoming the norm that commercial conveyancing solicitors in Sea Mills will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Sea Mills. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Sea Mills.
For every commercial conveyancing transaction in Sea Mills it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to Sea Mills commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Sea Mills.
four months have elapsed following my purchase conveyancing in Sea Mills concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. 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 asset 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 my first flat in Sea Mills with a loan from Bank of Scotland. The builders would not move on the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep told me not reveal to my conveyancer about this deal as it could adversely affect my mortgage with Bank of Scotland. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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 decided to have a survey completed on a property in Sea Mills prior to retaining solicitors. I have been advised that there is a flying freehold aspect to the property. The surveyor has said that some banks will not grant a mortgage on such a property.
It depends who your proposed lender is. Lloyds has different requirements for example to Nationwide. If you call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Sea Mills. Conveyancing may be slightly more expensive based on your lender's requirements.