My wife and I have recently acquired a property in Farnborough. We have noticed several problems with the house which we consider were omitted in the conveyancing searches. What action can we take? Can you clarify the nature of searches that should have been ordered for conveyancing in Farnborough?
The question is not clear as what problems have arisen and if they are specific to conveyancing in Farnborough. Conveyancing searches and due diligence undertaken during the legal transfer of property are supposed to help avoid problems. As part of the legal transfer of property, a seller fills in a questionnaire called a Seller’s Property Information Form. answers provided is misleading, you could possibly take legal action against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Farnborough.
What does my ID and proof of funds have anything to do with my conveyancing in Farnborough? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Farnborough conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility account evidencing your correct address.
Under Money Laundering Regulations, conveyancers are obliged by law to validate not simply the ID of conveyancing clients but also the origin of the money that they receive in respect of any matter. An unwillingness to disclose this will lead to your lawyer cancelling 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 make a disclosure to the appropriate authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
I am considering remortgaging my apartment in Farnborough, does my lawyer need to be on the RBS Solicitor panel?
In theory, you could use a solicitor that is not on the RBS conveyancing panel, but RBS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
What is the difference between a licensed conveyancer and conveyancing solicitor in Farnborough
There are many registered licenced Conveyancers in Farnborough and Solicitor partnerships in Farnborough who provide Conveyancing services We would stress that the two are supervised by regulatory bodies with both specialising in the legal aspects of the home buying process. Both can handle associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
Is it correct that all Farnborough CQS (Conveyancing Quality Scheme) solicitors are on the Lloyds conveyancing list of approved solicitors?
Some major banks and building societies now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
Intending to buy a house in Farnborough. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Farnborough property lawyer is on the UBS conveyancing panel.
I'm buying my first flat in Farnborough benefiting from help to buy. The sellers refused to reduce the amount so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not disclose to my lawyer about the side-deal as it would put at risk my mortgage with Accord Mortgages Ltd. 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.
I need to retain a conveyancing solicitor for some conveyancing in Farnborough. I've discover a site which appears to be the perfect offering If it is possible to get all this stuff completed via email that would be preferable. Should I be concerned? 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?