My wife and I are planning to acquire a 1 bedroom apartment in Worksop with a mortgage. We have a Worksop conveyancer, however the bank advise she’s not on their "panel". It appears that we have no option but to use one of the mortgage company panel solicitors or retain our Worksop conveyancing practitioner as well as pay for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Worksop conveyancing solicitor to apply to be on the conveyancing panel.
In what way does my ID and proof of funds have anything to do with my conveyancing in Worksop? Why is this being asked of me?
Worksop conveyancing solicitors as well as nationwide property practitioners accross the UK have a duty under Anti-terror and anti-money-laundering rules to check the identity of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and proof of address (usually a Bank Statement no older than three months).
Proof of source of funds is also required in accordance with the money laundering laws as conveyancers are required to ensure that the funds you are using to purchase a property (whether it be the deposit for exchange or the total purchase monies if you are buying without a mortgage) has come from legitimate source (such as employment savings) rather than the product of criminal behaviour.
Have completed on a a detached house in Worksop , how long will it take for the Land Registry to record my proprietorship? My Worksop conveyancing solicitor works at snail pace, so I want to check that my ownership is recorded.
As far as conveyancing in Worksop registration is no quicker or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can adjust according to the party submitting the application, whether it is in order and if the Land registry communicate with any interested persons or bodies. As of today approximately 80% of submission are fully dealt with within 12 days but occasionally there can be longer hold-ups. Registration is effected once the buyer is living at the property therefore an expedited registration is not typically top priority yet if it is urgent that the the registration takes place urgently then you or your lawyers could speak with the land registry and explain the circumstances.
I am buying my first flat in Worksop with the aid of help to buy. The developers refused to move on the price so I negotiated £7000 of extras instead. The estate agent told me not to tell my lawyer about the extras as it will jeopardize my loan with Lloyds TSB Bank. Do I keep my lawyer in the dark?.
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.
I am thinking of appointing a conveyancing practitioner in Worksop for my house move. Can I check a solicitor's complaints history with the legal regulator?
Members of the public may review presented Solicitor Regulator Association (SRA) determinations arising from investigations from 2008 onwards. Go to Check a solicitor's record. To find records Pre 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The SRA may monitor call for training requirements.
When it comes to my conveyancing in Worksop should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Worksop conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the solicitor's time in submitting the funds this way.