I am about to exchange on the purchase of a property in Tetbury but as a result of damage from the recent storms I have managed to agree compensation from the seller in the sum of £2k by way of a reduction in the price. This was going to be addressed as part of a side agreement yet Nationwide will not permit this. Why were they involved?
The solicitor that is on a Nationwide conveyancing panel is obliged to disclose to Nationwide of any variations to the sale price. If you prohibit your conveyancing practitioner to notify the reduction to Nationwide then they would have to discontinue acting for you. In addition, Nationwide and you would have to appoint a new lawyer for your conveyancing in Tetbury.
In what way does my ID and proof of funds have anything to do with my conveyancing in Tetbury? Is this really warranted?
To satisfy the Money Laundering Regulations any Tetbury conveyancing firm will require proof of identity in all conveyancing matters. This is normally 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 validate not only the ID of conveyancing clients but also the source of monies that they receive in respect of any matter. Refusal to disclose this may result in your conveyancer 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 inform the relevant authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
I am buying a 3 bedroom semi in Tetbury. The intention is to carry out an extension to the side at the house.Will the conveyancing process involve investigations to see if these works are allowed?
Your solicitor will review the registered title as conveyancing in Tetbury will occasionally identify restrictions in the title deeds which restrict categories of changes or need the consent of a 3rd party. Many works require local authority planning permissions and approval in compliance with building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor prior to committing yourself to a purchase.
We have agreed to purchase a house in Tetbury. A rare aspect is that the roof has a solar panel. RBS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with RBS your lawyer must check the conveyancing requirements contained in Part 2 of UK Finance Lenders’ Handbook for RBS. The Council of Mortgage Lenders’ Handbook stipulates minimum specifications for solar panel roof-space leases, and lawyers are required to report to RBS where a lease fails to meet these requirements. The provisions relate to the installation of panels on properties in England and Wales and is not limited to Tetbury.
I have today made my last payment due on my mortgage with Aldermore. I assume I don't need a Tetbury lawyer on the Aldermore panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Aldermore mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Aldermore mortgage from the register. Aldermore, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
I have recentlybeen informed that Stirling Law have been shut down. They conducted my conveyancing in Tetbury for a purchase of a leasehold apartment 18 months ago. How can I check that the property is not still registered in the name of the previous owner?
The quickest way to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Tetbury conveyancing specialists.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Tetbury is where the house is located. Can you shed any light on this issue?
Flying freeholds in Tetbury are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Tetbury you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tetbury may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Should I be suspicious that estate agents that I am dealing with are recommending an internet conveyancing firm rather than a local Tetbury conveyancing firm?
As with many professional services, often recommendations from connections can be extremely useful or valuable. But there are numerous parties with a keen interest in a conveyancing transaction; estate agents, financial adviser and banks might all recommend conveyancers to instruct. Sometimes these conveyancers might be known to one of the organisations as being good in their field, but sometimes there behind the scenes financial incentive behind the endorsement. You are at liberty to choose your own conveyancer. Don't forget that the majority of mortgage providers have an approved list of law firms you are obliged to use for the mortgage aspect of your conveyancing.