What does my ID and proof of funds have anything to do with my conveyancing in Wakefield? Why is this being asked of me?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Wakefield. Nowadays you will not be able to complete any conveyancing transaction in the absence providing proof of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a utility bill. Remember if you are supplying your driving licence as proof of ID it must be both the paper element as well as the photo card part, one is not satisfactory without the other.
Verification of the origin of money is required in accordance with the Money Laundering Regulations. Please do not be offended when you are asked to produce this as your conveyancer will need to retain this information on file. Your Wakefield conveyancing lawyer will require evidence of proof of funds before they are able to accept any monies from you into their client account and they will also ask further queries regarding the origin of monies.
A friend suggested that if I am buying in Wakefield I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally included in the estimate for your Wakefield conveyancing searches. It is not a small document of more than thirty pages, listing and detailing important information about Wakefield 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 plans and statistics, Local Amenities and other useful information concerning Wakefield.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Wakefield?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Wakefield. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying my first flat in Wakefield with a loan from TSB. The developers would not move on the price so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not to tell my solicitor about the extras as it would impact my mortgage with the lender. Is this normal?.
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 need to retain a conveyancing solicitor for residential conveyancing in Wakefield. I happened to discover a site which looks to be the ideal solution If there is a chance to get all the legals completed via web that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Do I need to pop into the offices of the lender conveyancing panel solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Wakefield so that I can pop in to their offices if required.
Whereas this was necessary 15 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Wakefield.