My husband and I are acquiring a new build duplex in Holton le Clay and my conveyancer is telling me that she is duty bound to the lender to disclose incentives from the seller. The Estate Agents are hassling me to exchange contracts and I would rather not prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
In what way does my ID and proof of funds have anything to do with my conveyancing in Holton le Clay? Is this really warranted?
It is indeed that case that these requests have nothing to do with conveyancing in Holton le Clay. Nowadays you can not complete any conveyancing process if you have not supplying proof of your identity. This usually takes the form of a either your passport or driving licence as well as a utility bill. Remember if you are providing your driving licence as proof of ID it needs to be both the paper element and photo card part, one is not acceptable in the absence of the other.
Evidence of your source of monies is required under Money Laundering Regulations. Please do not be offended when you are asked to produce this as your conveyancing solicitor will need to retain this information on file. Your Holton le Clay conveyancing practitioner will require evidence of proof of funds prior to accepting any monies from you into their client account and they may also ask additional questions concerning the source of funds.
My grandfather passed away 10 months ago and as sole heir and executor I was left the house in Holton le Clay. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Coventry BS, pay off the mortgage. Is this possible?
Where you plan to refinance then Coventry BS will insist on your using a conveyancer on the Coventry BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Coventry BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Coventry BS mortgage is registered as a charge at the Land Registry.
How does conveyancing in Holton le Clay differ for new build properties?
Most buyers of new build or newly converted property in Holton le Clay come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because developers in Holton le Clay tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Holton le Clay or who has acted in the same development.
I need to retain a conveyancing solicitor for remortgage conveyancing in Holton le Clay. I've chance upon a web site which looks to be the perfect answer If there is a chance to get all this stuff completed via email that would be preferable. Should I be wary? What should out be looking out for?
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?
Why am I unable to complete our conveyancing in Holton le Clay on Good Friday?
This is due to the fact that on completion the funds needs to be transferred electronically between the banks of the purchaser and owner’s lawyer and at present this can only happen on a business day. So you can't complete on a saturday or sunday either.