In what way does my ID and proof of funds have anything to do with my conveyancing in Dore? Is this really warranted?
To satisfy the Money Laundering Regulations any Dore conveyancing firm will require evidence of your identity in all conveyancing matters. This is usually satisfied by provision of a passport and an original bank statement or utility bill evidencing your correct address.
In accordance with Money Laundering Regulations, property lawyers are obliged by law to ascertain not simply the identity of conveyancing clients but also the origin of fund that they receive in respect of any matter. An unwillingness to disclose this will lead to your lawyer ending their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to inform the appropriate authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
A relative advised me that where I am buying in Dore I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Dore conveyancing searches. It is a large report of about 40 pages, listing and setting out significant information about Dore around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Dore Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful information concerning Dore.
five months have elapsed since my purchase conveyancing in Dore took place. I have checked the Land Registry website which shows that I paid £150,000 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'm purchasing a new build house in Dore with a mortgage from Leeds Building Society. The developers would not move on the price so I negotiated five thousand pounds worth of extras instead. The property agent told me not reveal to my conveyancer about this side-deal as it may impact my loan with Leeds Building Society. Should I keep quiet?.
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.
Due to the guidance of my in-laws I had a survey completed on a house in Dore in advance of retaining solicitors. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some banks may not give a loan on this type of home.
It varies from the lender to lender. Bank of Scotland has different requirements from Halifax. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Dore. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Dore to see if the conveyancing costs will increase in light of this.
I have been informed by many estate agents that it can take 6-8 weeks for Dore conveyancing to complete.This was a month ago. The draft contract was only forwarded to my solicitor a few days ago so does the clock start running now?
No official countdown exists for conveyancing in Dore, or any location. You simply have to ensure that your finances are in order and in due course the rest will come together.