In what way does my ID and proof of funds have anything to do with my conveyancing in Meopham? Is this really warranted?
It is indeed that case that these requests have nothing to do with conveyancing in Meopham. However these days you will not be able to proceed with any conveyancing transaction if you have not providing proof of your identity. This usually takes the form of a either your passport or driving licence as well as a council tax bill. Please note that if you are providing your driving licence as proof of identification it needs to be both the paper element as well as the photo card part, one is not satisfactory without the other.
Evidence of your origin of monies is mandated in accordance with the Money Laundering Regulations. You should not be offended when you are asked to produce this as your conveyancing solicitor will need to retain this information on file. Your Meopham conveyancing solicitor will need to see evidence of proof of funds before they are able to accept any money from you into their client account and they should also ask further questions regarding the source of funds.
Can you help - my lawyer advises that lack of right of way insurance is needed on my purchase. What is the level of cover for Meopham conveyancing?
The right level of lack of right of way indemnity insurance depends on who your lender is. It would differ for example between Lloyds TSB Bank and Skipton Building Society. Conveyancing lawyers as opposed to borrowers take out such insurances.
I am the sole recipient of my late mum's will and I have everything in my name alone, including the house in Meopham. The Meopham property was put into my name in April. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship may be treated the same way as if I'd bought the house in April. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. How practical a view banks take of it, depend on the mortgage company as this obligation chiefly exists to capture subsales or the flipping of properties.
I have a mortgage with Kent Reliance for my property in Meopham. Conveyancing was finalised 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Kent Reliance?
You must advise Kent Reliance in advance of renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. It may be that Kent Reliance will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. It should not be necessary to do this via a Kent Reliance conveyancing panel solicitor.
We are selling our property in Meopham and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. A high street Meopham lawyer would know this is not the case. It does beg the question why the purchasers instructed an online conveyancing practice as opposed to a conveyancing solicitor in Meopham. We have lived in Meopham for three years we know of no issue. Is it a good idea to contact our local Authority to get confirmation that the buyers are looking for.
It would appear that you have a conveyancing solicitor currently acting for you. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
2 months have gone by following my purchase conveyancing in Meopham took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing my first flat in Meopham with a mortgage from Accord Mortgages Ltd. The developers refused to move on the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not to tell my conveyancer about this extras as it would jeopardize my loan with Accord Mortgages Ltd. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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 opted to have a survey carried out on a property in Meopham before instructing solicitors. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some banks tend refuse to issue a mortgage on such a premises.
It varies from the lender to lender. Lloyds has different instructions from Birmingham Midshires. Should you wish to telephone us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Meopham. Conveyancing may be slightly more expensive based on your lender's requirements.