I am not in a position to travel far from Llandyrnog. Can you please spell out why all Llandyrnog property lawyers aren't included on all lender panels?
Lenders highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The dismissal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for mortgage companies to review their conveyancing panels, which triggered a major policy change in the sector. This resulted in banks and building societies culling less reputable firms off their panel of approved lawyers .
What does my ID and proof of funds have anything to do with my conveyancing in Llandyrnog? Why is this being asked of me?
Llandyrnog conveyancing solicitors and indeed property practitioners accross the UK have a duty under Anti-terror and anti-money-laundering rules to verify the identity of any client with a view to ensure that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and evidence of address (typically a Utility Bill no more than three months).
Evidence of the origin of funds is also necessary in accordance with the money laundering statutes as solicitors are required to check that the money you are using to acquire a property (be it the exchange deposit or the total purchase monies if you are buying mortgage free) has come from legitimate source (such as employment savings) as opposed to the fruits of criminal behaviour.
I'm buying my first flat in Llandyrnog with the aid of help to buy. The sellers refused to reduce the price so I negotiated £7000 of extras instead. The estate agent suggested that I not reveal to my lawyer about this deal as it would affect 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.
I am looking for a leasehold apartment up to £235,500 and identified one near me in Llandyrnog I like with a park and transport links in the vicinity, however it only has 61 remaining years left on the lease. There is not much else in Llandyrnog in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you require a home loan the remaining unexpired lease term may be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
I need to instruct a conveyancing lawyer in Llandyrnog for my remortgage. Can I review a solicitor's complaints history with the profession’s regulator?
You can find published Solicitor Regulator Association (SRA) decisions arising from investigations from 2008 onwards. Visit Check a solicitor's record. For details Pre 2008, or to check a firm's history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The SRA may monitor telephone calls for training requirements.
I need to switch lawyers as my Llandyrnog lawyer is not on the mortgage company's panel of conveyancing solicitors. Is it practical to instruct different lawyers?
In the event that you have not formally appointed a solicitor to commence the conveyancing and have just received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Llandyrnog that you're considering.