In what way does my ID and proof of funds have anything to do with my conveyancing in Paignton? What am I being asked for?
Paignton conveyancing solicitors as well as nationwide property practitioners accross the UK have an obligation under money laundering regulations to verify the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and evidence of address (usually a Utility Bill less than 3 months old).
Confirmation of the origin of monies is also required in accordance with the money laundering regulations as lawyers are obliged to ensure that the monies you are utilising to buy a property (whether it be the deposit for exchange or the full purchase monies if you are buying without a mortgage) has originated from an acceptable source (such as an inheritance) and is not the fruits of criminal behaviour.
three months have elapsed following my purchase conveyancing in Paignton took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. 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 property 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.
Due to the advice of my in-laws I had a survey completed on a house in Paignton prior to appointing conveyancers. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some mortgage companies tend refuse to grant a loan on such a premises.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. Should you wish to call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Paignton. Conveyancing will be smoother if you use a solicitor in Paignton especially if they are accustomed to such properties in Paignton.
Hoping to buy a property located in Paignton and I am already nervous. I couldn't find anything specific about Paignton. Conveyancing will be needed in due course but do you know about the Paignton area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Paignton. In the meantime here are some basic statistics that we found
Am I better off to choose a Paignton conveyancing solicitor based in the vicinity that I am purchasing? We have a good friend who can conduct the legal work however they are based 300kilometers drive away.
The benefit of a local Paignton conveyancing firm is that you can pop in to sign paperwork, present your ID and pester them where appropriate. Having local Paignton know how is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and on the whole were impressed that should outweigh using an unfamiliar Paignton conveyancing solicitor solely due to them being local.
Our lawyer in Paignton has discovered a defect with the lease for the apartment we are purchasing in Paignton. The other side have offered title insurance as a solution. We are content with insurance and will cover the costs. Our solicitor has advised that as he is on the bank conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is the bank?
Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Paignton conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the bank are the client. The appropriate lender requirements have to be complied with by the bank conveyancing panel who has to balance acting for you and the lender