My wife and I are due to complete on the purchase of a house in Kirkstall but as a consequence of damage from the recent storms I have managed to agree recompense from the owner in the sum of £2k by way of a adjustment in the price. I had intended this to be addressed as part of the conveyancing process yet Kent Reliance will not agree to this. Why were they informed?
Your conveyancing practitioner being on the Kent Reliance approved list is required to inform Kent Reliance of any variations to the sale price. If you prohibit your solicitor to notify the price change to Kent Reliance then they would have to discontinue acting for you. In addition, Kent Reliance and you would have to appoint a new conveyancer for your conveyancing in Kirkstall.
What does my ID and proof of funds have anything to do with my conveyancing in Kirkstall? What am I being asked for?
Kirkstall conveyancing solicitors and indeed property practitioners accross the UK have a duty under money laundering regulations to check the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and proof of address (typically a Bank Statement no older than three months).
Confirmation of source of monies is also necessary under the money laundering laws as lawyers are mandated to check that the funds you are using to buy a property (whether it be the deposit for exchange or the full purchase price if you are buying mortgage free) has come from an acceptable source (such as an inheritance) and is not the product of criminal behaviour.
My Conveyancer in Kirkstall is not on the Nationwide Building Society Solicitor Panel. Can I still retain my prefered solicitor even though they are not on the Nationwide Building Society panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your existing Kirkstall solicitors but Nationwide Building Society will need to instruct a solicitor on their panel. This will result in additional total legal fees as well as result in frustration.
- Choose an alternative solicitor to act in the conveyancing, remembering to check they are Nationwide Building Society approved.
- Try to convince your Nationwide Building Society solicitor to try to join the Nationwide Building Society panel
I have been told that property searches are a common reason for obstruction in Kirkstall house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances in the conveyancing process. Searches are unlikely to feature in any slowing down conveyancing in Kirkstall.
I'm buying a new build house in Kirkstall with a loan from Platform Home Loans Ltd. The builders refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not reveal to my lawyer about this deal as it could put at risk my mortgage with the lender. Is this normal?.
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 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.
Is it possible to switch conveyancer as I need to appoint one who is on the Alliance & Leicester conveyancing panel. I had appointed a family conveyancing solicitor in Kirkstall five minutes from me but the firm is not approved by Alliance & Leicester
We will our best to assist in finding you a conveyancing solicitor in Kirkstall on the Alliance & Leicester panel. Please note that the law firms that we on the directory do not pay us a referral fee if you instruct them and are authorised and regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Kirkstall. Using the find a conveyancing solicitor tool on this website, you can scrutinise charges for conveyancing solicitors in Kirkstall and beyond.