In what way does my ID and proof of funds have anything to do with my conveyancing in Godmanchester? Is this really necessary?
To satisfy the Money Laundering Regulations any Godmanchester conveyancing firm will require proof of identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility bill showing your correct address.
Under Money Laundering Regulations, conveyancers are obliged by law to investigate not only the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. An unwillingness to disclose this will result in your solicitor ending their relationship 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 inform the appropriate authorities should they consider that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
My apartment in Godmanchester is up for sale and I have accepted an offer. Does my property lawyer have to be on the Leeds Building Society conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Leeds Building Society conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.
We have agreed to purchase a house in Godmanchester. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender RBS be concerned?
Given that you are obtaining a mortgage with RBS your lawyer must check the conveyancing requirements contained in Section 2 of UK Finance Lenders’ Handbook for RBS. The CML Handbook contains minimum conditions for solar panel roof-space leases, and conveyancing practitioners are required to report to RBS where a lease fails to satisfy these requirements. The provisions relate to the installation of panels on properties nationwide and is not restricted to Godmanchester.
The formalities of my remortgage has taken place for my property in Godmanchester. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
It is not clear whether my lender requires a lease extension. I have called into my local Godmanchester bank branch on various occasions and was reassured it wasn't an issue and they will lend. My Godmanchester conveyancing solicitor - who is on the bank conveyancing panel- called to say that they will not lend in accordance with their published requirements. Who do I believe?
Your property lawyer has to comply with the CML Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I require quick conveyancing in Godmanchester as I am under a deadline to exchange contracts within one month. Luckily I do not need a mortgage. Can I decline from having conveyancing searches to save money and time?
As you are are a cash buyer you have the choice not to do searches although no conveyancer would advise that you don't. Drawing on years of experience of conveyancing in Godmanchester the following are examples of what can be revealed and adversely affect market value: Refused Planning Applications, Overdue Fees, Outstanding Grants, Unadopted Roads,...
I am purchasing a new build house in Godmanchester benefiting from help to buy. The developers would not budge the amount so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not reveal to my lawyer about this extras as it would jeopardize my mortgage with the lender. 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 UK Finance website. UK Finance 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 encouragement of my in-laws I had a survey completed on a house in Godmanchester before instructing conveyancers. I have been advised that there is a flying freehold aspect to the house. The surveyor advised that some mortgage companies tend refuse to give a loan on such a 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 bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Godmanchester. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Godmanchester to see if the conveyancing costs will increase in light of this.