The Towcester conveyancing firm handling our Towcester conveyancing has spotted an inconsistency when comparing the assumptions in the home valuation report and what is revealed within the title deeds. My solicitor has advised that he must check that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s approach right?
Your conveyancer must comply with the UK Finance Lenders’ Handbook provisions 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 you.
In what way does my ID and proof of funds have anything to do with my conveyancing in Towcester? What am I being asked for?
Towcester conveyancing solicitors as well as nationwide property lawyers throughout the UK have a duty under Anti-terror and anti-money-laundering rules to verify the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to produce two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and evidence of address (typically a Bank Statement less than 3 months old).
Proof of source of monies is also required under the money laundering regulations as conveyancers are mandated to ensure that the monies you are using to buy a property (be it the exchange deposit or the full purchase price where you are a cash purchaser) has originated from a reputable source (such as employment savings) and is not the fruits of illegitimate activity.
What is the optimum way to find out if the solicitor conducting my conveyancing in Towcester is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Virgin Money thus spending £175.00 in supplemental conveyancing costs.
Feel free to make use of the search tool on this web page. Please choose the mortgage company and type ‘Towcester’ or your location and you will see numerous conveyancers located in Towcester or by proximity to you.
I purchased a terraced Edwardian house in Towcester. Conveyancing solicitor represented me and TSB. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold under the matching address. Is it worth asking TSB to clarify?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Towcester and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing practitioner who conducted the work.
I'm buying my first flat in Towcester with the aid of help to buy. The developers refused to budge the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative advised me not to tell my solicitor about the extras as it will put at risk my mortgage 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.
Can you please clarify what my options are where my Towcester conveyancing searches reveals negative entries?
Normally, the majority of problems arising from Towcester conveyancing search results can be addressed prior to completion or title insurance can be put in place. It is important to note that regardless of the fact that you are buying the property and might be willing to live with the search results, your building society or bank may not, and ultimately they have the final say.