In what way does my ID and proof of funds have anything to do with my conveyancing in Honor Oak? What am I being asked for?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the ID of the potential client they are dealing with prior to agreeing to accepting their conveyancing business. The Terms of Engagement that you need to sign should confirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you are unwilling to supply identification documents, your conveyancer would not be able to accept instructions from you.
My lawyer in Honor Oak has never been on on the Approved Panel. Is it possible for me to retain my family solicitor notwithstanding that they are excluded from the panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your existing Honor Oak solicitors but will need to instruct a lawyer on their panel. This will result in additional overall legal fees as well as cause delays.
- Choose a new practitioner to to deal with the purchase, obviously checking they are on the panel
I'm the single recipient of my late father’s estate and I have everything in my name alone, including the house in Honor Oak. Conveyancing formalities meant that the Land Registry date was in . I plan to dispose of the house. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship will be regarded the same way as if I'd bought the house in . Will no one buy the property for half a year?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. How practical a view lenders take of it, depend on the bank as this clause primarily exists to identify the purchase and immediately sell or the quick reselling of property.
We expect to receive a AIP from this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do recommend any Honor Oak solicitors on the conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Honor Oak solicitors independently although you'll need to choose one on the conveyancing panel. The solicitor represents both you and through the process.
Completion of my remortgage has taken place for my property in Honor Oak. Conveyancing was a necessary evil but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I am buying a new build house in Honor Oak with the aid of help to buy. The sellers refused to reduce the price so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not inform my solicitor about this extras as it could put at risk my mortgage with . 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 have been on the look out for a leasehold apartment up to £195,000 and identified one near me in Honor Oak I like with open areas and railway links nearby, the downside is that it only has 49 years on the lease. There is not much else in Honor Oak for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the remaining unexpired lease term may be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.