What does my ID and proof of funds have anything to do with my conveyancing in Braunton? 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 Braunton. Nowadays you will not be able to complete any conveyancing process in the absence providing evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a bank statement. Remember if you are providing your driving licence as proof of identification it must be both the paper section and photo card part, one is not acceptable in the absence of the other.
Verification of your source of money is necessary under Money Laundering Regulations. You should not be offended when when this is requested of you as your lawyer must retain this information on record. Your Braunton conveyancing practitioner will need to see evidence of proof of funds prior to accepting any money from you into their client account and they should also ask additional queries regarding the source of monies.
The Braunton conveyancing firm that I appointed last week on my purchase in Braunton have suddenly shut down. I only went with them because I had to have a firm on the HSBC conveyancing panel and my family Braunton lawyer was not. I paid them £170 in advance. What are my options?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the HSBC conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
Various web forums that I have visited warn that are the main reason for obstruction in Braunton house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Braunton.
Me and my brother purchased a semi-detached Victorian house in Braunton. Conveyancing lawyer represented me and Santander. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold with the matching address. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Braunton and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with the conveyancing solicitor who conducted the purchase.
I'm buying a new build house in Braunton with a loan from Skipton Building Society. The builders refused to move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep suggested that I not reveal to my solicitor about the deal as it would put at risk my mortgage with the lender. Should I keep quiet?.
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.