I can't travel far from Ringwood. What is the rationale as to why all Ringwood solicitors aren't included on all lender panels?
Mortgage companies highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The dismissal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for mortgage companies to review their conveyancing panels, which triggered a major policy change in the sector. This led to mortgage companies removing a number of firms off their books of approved conveyancing practitioners .
In what way does my ID and proof of funds have anything to do with my conveyancing in Ringwood? Is this really necessary?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to check the ID of the potential client they are dealing with before they can accept their conveyancing retainer. The Client Care letter that you are required to sign will no doubt stipulate this. Your lender will also require certain documents to be viewed. Should you refuse to supply ID verification documents, your solicitor would not be able to accept instructions from you.
I am looking to buy a flat and need a conveyancing solicitor in Ringwood who is on the Alliance & Leicester approved. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Alliance & Leicester in certain locations such as Ringwood. We dont recommend any particular firm.
four months have elapsed following my purchase conveyancing in Ringwood completed. I have checked the Land Registry site which shows that I paid £200,000 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'm buying my first flat in Ringwood with the aid of help to buy. The developers refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The property agent advised me not to tell my lawyer about this side-deal as it would adversely affect my mortgage with Coventry Building Society. Do I keep my lawyer in the dark?.
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.
Am I best advised to go with a Ringwood conveyancing lawyer who is local to the property I am purchasing? We have a good friend who can conduct the conveyancing however his firm is located 400kilometers drive away.
The primary upside of using a high street Ringwood conveyancing firm is that you can pop in to execute documents, hand in your identification documents and apply pressure on them where appropriate. Having local Ringwood know how is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who used your friend and in the main were impressed that must trump using an unknown Ringwood conveyancing solicitor just because they are Ringwood based.