I am not well enough to travel far from Queensferry. Is there a reason why all Queensferry conveyancing practitioners aren't automatically on all mortgage company panels?
Even though it may seem unfair for lenders to restrict who can act for them, from the public’s or solicitor’s point of view, the the contrary view is that mortgage companies are becoming ever more anxious and consider it necessary to protect them from illegal activities. As a result of this concern lenders have restricted their panel of approved conveyancing lawyers to a manageable size.
Due to move into my new home in Queensferry next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the bank. What risks does the bank expect the insurance to cover?
Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook instructions. These requirements are not unique to conveyancing in Queensferry.
In what way does my ID and proof of funds have anything to do with my conveyancing in Queensferry? Is this really necessary?
In order to comply with Money Laundering Regulations any Queensferry conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility bill evidencing your correct address.
In accordance with Money Laundering Regulations, property lawyers are required to ascertain not just the ID of conveyancing clients but also the origin of fund that they receive in respect of any matter. Refusal to disclose this may lead to your lawyer ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to inform the appropriate authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
I am helping my step-mother sell her flat in Queensferry. Will the conveyancing solicitor arrange an energy performance certificate or should I organise this?
After the demise of Home Information Packs, energy performance certificates was retained a required component of moving property. An EPC needs to be to hand before the property is advertised. It is not as aspect of the sale process that law firms ordinarily arrange. Where you are using a Queensferry conveyancing lawyer they might help arrange energy performance certificates given their contacts with reputable local providers
I'm the single recipient of my late father’s will with all property in now in my sole name, including the my former home in Queensferry. The Queensferry property was put into my name in March. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', meaning my property ownership will be regarded the same way as though I had purchased the property in March. Do I have to wait half a year to sell?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. Some mortgage companies would take a practical view as this clause primarily exists to pick up on the purchase and immediately sell or the flipping of properties.
I have decided to exercise my right to buy my property in Queensferry off the council. I have a mortgage offer with UBS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with UBS, you will need to appoint a solicitor on the UBS conveyancing panel.
I am buying my first flat in Queensferry with a mortgage from Coventry Building Society. The developers refused to budge the amount so I negotiated £7000 of additionals instead. The property agent told me not to tell my lawyer about the deal as it will adversely affect my loan with the bank. Should I keep quiet?.
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.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Queensferry is where the house is located. Is there any guidance you can impart?
Flying freeholds in Queensferry are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Queensferry you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Queensferry may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.