What does my ID and proof of funds have anything to do with my conveyancing in Aberdare? What am I being asked for?
Aberdare conveyancing solicitors and indeed property practitioners throughout the UK have a duty under money laundering regulations to check the identity of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and proof of address (usually a Utility Bill no older than three months).
Proof of source of monies is also required under the money laundering statutes as solicitors are obliged to ensure that the monies you are utilising to buy a property (be it the exchange deposit or the total purchase price if you are buying without a mortgage) has originated from an acceptable source (such as employment savings) and is not the proceeds of criminal behaviour.
We previously appointed conveyancing lawyers locally in Aberdare on the HSBC solicitor approved list. They have just billed me a further charge for handling the HSBC mortgage. Is this a supplemental conveyancing fee specified by HSBC?
Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your lawyer may charge a fee for this. The fee is not set by HSBC but by your Aberdare conveyancer. Numerous firms on the HSBC panel will quote ’dealing with mortgage’ fee but plenty of practices include it on their overall fee.
Last month we had a mortgage agreed in principle with Bank of Ireland. Aberdare conveyancing solicitors have been selected. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
Some lenders take longer than others. Have Bank of Ireland done the survey? Have you advised Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
After weeks of negotiation I have agreed a price on a house in Aberdare. My financial adviser pressured me to appoint their property lawyer. I paid an on account payment of £225. A few days later, the lawyer called me sheepishly admitting that they were not on the Nationwide conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nationwide panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Will commercial conveyancing searches reveal impending roadworks that may impact a commercial estate in Aberdare?
Many commercial conveyancing solicitors in Aberdare will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Aberdare. The report provides definitive data 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 Aberdare.
For every commercial conveyancing transaction in Aberdare it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Aberdare commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not carried out for residential conveyancing in Aberdare.
I am purchasing my first flat in Aberdare with the aid of help to buy. The sellers refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not reveal to my conveyancer about this side-deal as it may adversely affect my mortgage with the lender. Do I keep my lawyer in the dark?.
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 need to retain a conveyancing solicitor for leasehold conveyancing in Aberdare. I've stumble upon a site which seems to have the ideal solution If there is a chance to get all the legals done via phone that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
When it comes to my conveyancing in Aberdare should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Aberdare conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the lawyer's time in submitting the funds this way.