The Shoeburyness conveyancing firm handling our Shoeburyness conveyancing has discovered a difference between the information in the valuation report and what is revealed within the conveyancing documents. My lawyer informs me that he is obliged to check that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s approach right?
Your solicitor must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
What does my ID and proof of funds have anything to do with my conveyancing in Shoeburyness? What am I being asked for?
To satisfy the Money Laundering Regulations any Shoeburyness conveyancing firm will require proof of identity in all conveyancing matters. This is usually dealt with by provision of a passport and an original bank statement or utility bill showing where you live.
In accordance with Money Laundering Regulations, property lawyers are required to ascertain not just the identity of conveyancing clients but also the origin of fund that they receive in respect of any matter. An unwillingness to disclose this may result in your solicitor cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to notify the appropriate authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.
Should our lawyer be making enquiries about flooding during the conveyancing in Shoeburyness.
Flooding is a growing risk for lawyers carrying out conveyancing in Shoeburyness. There are those who purchase a house in Shoeburyness, fully aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, however there are a numerous checks that may be initiated by the purchaser or by their conveyancers which will give them a better understanding of the risks in Shoeburyness. The standard information supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a usual question of the owner to discover whether the property has suffered from flooding. In the event that the residence has been flooded in past and is not disclosed by the seller, then a buyer may commence a legal claim for losses as a result of such an inaccurate answer. A buyer’s lawyers will also commission an enviro search. This will higlight whether there is any known flood risk. If so, further investigations should be made.
I am buying a new build house in Shoeburyness with a loan from Clydesdale. The sellers would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not inform my conveyancer about this deal as it may affect my mortgage with the bank. Do I keep my lawyer in the dark?.
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 decided to have a survey completed on a property in Shoeburyness ahead of instructing lawyers. I have been informed that there is a flying freehold aspect to the property. The surveyor advised that some mortgage companies may not grant a mortgage on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. If you e-mail us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Shoeburyness. Conveyancing may be slightly more expensive based on your lender's requirements.
My father has recommend that I appoint his lawyers for conveyancing in Shoeburyness. Do I take his guidance?
There are no two ways about it the ideal way to find a conveyancing solicitor is to have recommendations from friends or family who have actually previously instructed the solicitor you're considering.