My husband and I are intent on acquiring property in Brading. My Conveyancer is not on the lender solicitor panel. Can I still continue with my Brading conveyancing solicitor notwithstanding that they are not on the lender panel of approved conveyancing solicitors?
You have a couple of choices open to you here
- Carry on with your preferred Brading lawyer but your lender will no doubt instruct a solicitor on their approved panel. This will result in additional fees together with likely interruption.
- Get a new property lawyer to conduct the conveyancing, ensuring that they are on the lender conveyancing panel.
- Convince your property lawyer to attempt to join the bank panel
What does my ID and proof of funds have anything to do with my conveyancing in Brading? Why is this being asked of me?
Brading conveyancing solicitors as well as nationwide property practitioners throughout the UK have a duty under Anti-terror and anti-money-laundering rules to check the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and evidence of address (usually a Bank Statement less than 3 months old).
Evidence of the origin of funds is also required in compliance with the money laundering laws as solicitors are duty bound to check that the funds you are utilising to buy a property (whether it be the deposit for exchange or the full purchase amount if you are a cash purchaser) has originated from an acceptable source (such as employment savings) and is not the proceeds of criminal activity.
I have an AIP. The lender mentioned the home loan came with free conveyancing. Does this mean I have to instruct their panel conveyancer as I would prefer to appoint a high street conveyancing solicitor in Brading?
You should check but the chances are that appoint one of their panel lawyers where you want the "fee-free" incentive. Contact the bank and determine if they make available a cash alternative. In the past a few mortgage companies offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor in Brading.
I understand that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when acquiring a property in Brading? or Apparently there is an ancient law that could mean that homeowners residing in a parish church boundary will be compelled to pay for maintenance towards the chancel within the church. Is this relevant for conveyancing in Brading?
Unless a prior acquisition of the property took place after 12 October 2013 you could take it that lawyers carrying out conveyancing in Brading to continue to suggest a chancel search and or insurance against a claim.
I'm purchasing my first flat in Brading with a loan from Virgin Money. The sellers would not budge the price so I negotiated 6k of additionals instead. The sale representative advised me not to tell my conveyancer about the extras as it could jeopardize my loan with the bank. 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'm remortgaging my current property to a buy to let loan with National Westminster Bank and I will use the rest of the raised equity as a down payment on further house. The neighborhood we are interested in is Brading. Will your lawyers be able to act for both sets of lenders and tie in the transactions?
Make use of our comparison tool on this site to check that the conveyancers are on the relevant lender panels. On the basis that they are the conveyancer will be able to connect the two transactions but you should have a chat with you solicitor and make apparent your expectations and needs.