Our Little Haven solicitor has spotted a difference when comparing the information in the valuation report and what is revealed within the title deeds. My lawyer informs me that he is obliged to check that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s approach correct?
Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
In what way does my ID and proof of funds have anything to do with my conveyancing in Little Haven? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Little Haven conveyancing firm will require proof of identity in all conveyancing transactions. This is usually satisfied by provision of a passport and an original bank statement or utility account evidencing where you live.
Under Money Laundering Regulations, conveyancers are duty bound to ascertain not simply the ID of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this may lead to your conveyancer terminating their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to notify the appropriate authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
What is the difference between a licensed conveyancer and conveyancing solicitor in Little Haven
There are many registered licenced Conveyancers in Little Haven and Solicitor partnerships in Little Haven to choose from It is important to make clear that the two are supervised by regulatory bodies with both specialising in the legal work in the home buying process. They may both also deal with associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
We are getting a further advance on our home loan from HSBC as we want to conduct renovations to our home in Little Haven. Are we obliged to select a bricks and mortar Little Haven solicitor on the HSBC conveyancing panel to deal with the paperwork?
HSBC do not ordinarily require a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC list.
The formalities of my remortgage has taken place for my property in Little Haven. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
My colleague advised me that where I am purchasing in Little Haven I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually included in the estimate for your Little Haven conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about Little Haven around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Little Haven Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Little Haven Education with plans and statistics, Local Amenities and other useful information about Little Haven.
Over the last few months I have been searching for a flat up to £235,500 and identified one round the corner in Little Haven I like with open areas and transport links nearby, however it only has 52 years unexpired on the lease. I can't really find anything else in Little Haven suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan that many years will be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
What do I do if I am dissatisfied with the conveyancer who did our conveyancing in Little Haven?
Occasionally the level of service you receive is not as you expect, and is is a fact of life that every so often things do go wrong. That being said there is recourse where you were unhappy with your conveyancing in Little Haven. This varies from trying to resolve matters directly with them, through to reporting a conveyancing practitioner to their governing body. If you remain aggrieved you may consider getting in touch with the Legal Ombudsman.