What does my ID and proof of funds have anything to do with my conveyancing in Whitmore? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Whitmore conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility bill evidencing your correct address.
Under Money Laundering Regulations, property lawyers are duty bound to ascertain not simply the ID of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this will result in your conveyancer 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 make a disclosure to the appropriate authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
My father informed me that in purchasing a property in Whitmore there could be a number of restrictions prohibiting external changes to the property. Is this right?
We are aware of anumerous of properties in Whitmore which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Whitmore should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
The mortgage over my property is with Nationwide for my property in Whitmore. Conveyancing was finalised a year 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 BTL mortgage or inform Nationwide?
Your original mortgage agreement with Nationwide will provide that you need their approval before letting out your property as this is likely to be a breach of Nationwide’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 Nationwide directly. It should not be necessary to do this via a Nationwide conveyancing panel solicitor.
Leeds Building Society have agreed my mortgage in principle, my bid on a flat in Whitmore has been accepted, what are the next steps?
The estate agent will want to be advised as to your solicitor's details (make sure the conveyancing practitioners are on the lender’s approved list). Telephone Leeds Building Society or the financial adviser and complete any appropriate documentation. Leeds Building Society will appoint a valuer who will get in touch with the selling agent or seller to schedule an appointment. Once carried out (assuming no problems) it takes on average a fortnight to receive the mortgage offer. Leeds Building Society will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Whitmore.
2 months have elapsed since my purchase conveyancing in Whitmore took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. 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 premises 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 am buying my first flat in Whitmore with the aid of help to buy. The developers refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The property agent suggested that I not disclose to my lawyer about this extras as it would put at risk my mortgage with Leeds Building Society. 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.
Given that I am about to part with 450k on a two bedroom apartment in Whitmore I would like to talk to a conveyancer regarding theconveyancing ahead of appointing the firm. Is this something that you can arrange?
This is something that we encourage - we would be delighted to talk to you we do not take any clients on without you liaising with the solicitor due to be conducting your property ownership legalities in Whitmore.There is no ‘factory style conveyancing’ - every client is an important individual, not a file reference. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in Whitmore should be the figure that you end up paying.
Am I better off to choose a Whitmore conveyancing solicitor in close proximity to the house I am hoping to buy? I have an old university friend who can handle the conveyancing but his firm is located approximately 350miles drive away.
The primary upside of using a high street Whitmore conveyancing firm is that you can attend the office to execute documents, present your ID and pester them if necessary. Having local Whitmore know how is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If you know people who used your friend and the majority were impressed that must trump using an unknown Whitmore conveyancing solicitor solely due to them being Whitmore based.