What does my ID and proof of funds have anything to do with my conveyancing in Dartmouth? Is this really warranted?
In order to comply with Money Laundering Regulations any Dartmouth conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility bill showing where you live.
Under Money Laundering Regulations, conveyancing solicitors are required to check not just the ID of conveyancing clients but also the source of monies that they receive in respect of any matter. Refusal to disclose this will result in your conveyancer ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to notify the appropriate authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
After months of negotiation I have agreed a price on an apartment in Dartmouth. My financial adviser pressured me to appoint their property lawyer. I paid an advanced payment of £175. Shortly after, the solicitor contacted me sheepishly admitting that they were not on the Santander 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 Santander 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.
I am due to exchange contracts on my flat. I had a double glazing fitted in April 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Lloyds are being pedantic. The Dartmouth solicitor who is on the Lloyds conveyancing panel is recommending indemnity insurance as a solution but Lloyds are insisting on a building regulation certificate. Why do Lloyds have a conveyancing panel if they don't accept advice from them?
It is probably the case that Lloyds have referred the matter to their valuer. The reason why Lloyds may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I was told three weeks ago that my mortgage has been agreed to by Lloyds. Is it usual for Lloyds to only issue the offer once my solicitor in Dartmouth is approved on their conveyancing panel? Lloyds have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Lloyds to deal with your lawyer's application to be on the Lloyds conveyancing panel. There's no guarantee that your solicitor will be accepted.
Will my lawyer be making enquiries concerning flooding as part of the conveyancing in Dartmouth.
Flooding is a growing risk for conveyancers dealing with homes in Dartmouth. Plenty of people will acquire a property in Dartmouth, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to offer advice on flood risk, but there are a various searches that may be carried out by the purchaser or on a buyer’s behalf which should figure out the risks in Dartmouth. The conventional set of property information forms given to a buyer’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the vendor to discover whether the property has suffered from flooding. If the residence has been flooded in past which is not disclosed by the owner, then a buyer may commence a legal claim for losses as a result of such an incorrect answer. A purchaser’s lawyers will also carry out an environmental report. This should reveal whether there is any known flood risk. If so, more detailed investigations will need to be initiated.
2 months have elapsed following my purchase conveyancing in Dartmouth concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. 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 property 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 have been on the look out for a leasehold apartment up to £235,500 and identified one round the corner in Dartmouth I like with a park and transport links in the vicinity, however it only has 61 years unexpired on the lease. I can't really find anything else in Dartmouth suitable, so just wondered if I would be making a mistake buying a short lease?
If you require a mortgage that many years will be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
I need to instruct a conveyancing solicitor for freehold conveyancing in Dartmouth. I have discover a web site which seems to have the perfect answer If there is a chance to get all the legals done via phone that would be preferable. Do I need to be wary? What are the potential pitfalls?
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?