What does my ID and proof of funds have anything to do with my conveyancing in Strood? Why is this being asked of me?
It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Strood. Nowadays you will not be able to complete any conveyancing transaction if you have not handing over evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a utility bill. Please note that if you are supplying your driving licence as proof of ID it needs to be both the paper section as well as the photo card part, one is not sufficient without the other.
Verification of your source of funds is necessary in accordance with the Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancing solicitor will need to have this information on record. Your Strood conveyancing lawyer will require evidence of proof of funds prior to accepting any funds from you into their client account and they should also ask further queries regarding the source of funds.
Can you point me to a directory of Yorkshire BS panel solicitors in Strood on the Building Society Association’s Website?
No. There is no such tool on the CML or Building Society Association sites. Very few lending institutions make their panel listings viewable over the internet. If you are in need of a Strood lawyer on the Yorkshire BS please use our facility.
We have agreed to purchase a house in Strood. An unusual aspect is that the roof has a solar panel. Nottingham have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Nottingham your lawyer must check the formal instructions outlined in Section two of UK Finance Lenders’ Handbook for Nottingham. The Council of Mortgage Lenders’ Handbook includes minimum specifications for solar panel roof-space leases, and conveyancing practitioners are required to report to Nottingham where a lease fails to satisfy these requirements. The requirements relate to the installation of panels on properties in England and Wales and is not isolated to Strood.
I currently have a mortgage with Principality for my property in Strood. Conveyancing was finalised 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Principality?
Principality must be informed of your intention prior to renting your property as this is likely to be a breach of Principality’s mortgage conditions. In many cases banks or building societies will permit you to let 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 Principality directly. You need not do this via a Principality conveyancing panel firm.
A relative recommended that if I am buying in Strood I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Strood conveyancing searches. It is not a small document of more than thirty pages, listing and detailing significant information about Strood around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data about Strood.
I'm purchasing my first flat in Strood with a loan from Platform Home Loans Ltd. The developers would not move on the amount so I negotiated £7000 of extras instead. The house builders rep told me not reveal to my solicitor about this deal as it could impact 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.
Looking forward to exchange soon on a ground floor flat in Strood. Conveyancing solicitors assured me that they report fully on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Strood should include some of the following:
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Repair and maintenance of the premises Who has the liability to repair and maintain the main walls and foundations. It is important for you to know who is duty bound to repair and maintenance of every part of the building Rent payments - what is payable and what the invoice dates are, and also know whether this will change in the future Setting out your rights in respect of the communal areas in the building.By way of example, does the lease permit a right of way over an accessway or staircase?
Strood Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing
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Who are the managing agents? Generally speaking the cost for major works are not included within maintenance charges, albeit that a few managing agents in Strood require tenants to contribute towards a sinking fund created for the specific intention of establishing a fund for larger works.
I need to review costs for conveyancing in Strood from numerous property lawyer and choose one. Do I get them to sit tight until I I have my bid accepted on a flat.
We suggest that you only ask your solicitor to open a file and order searches after the offer has been accepted on the property particularly as Strood conveyancing searches are not inexpensive.