I am soon to complete on the purchase of a house in Sidmouth but as a consequence of wreckage from some water damage at the property I have managed to agree compensation from the owner in the sum of £3k taking the form of a reduction in the price. This was going to be addressed as part of a side agreement but Yorkshire BS are not allowing this. Should they have been involved?
The conveyancer that is on the Yorkshire BS conveyancing panel is obliged to advise Yorkshire BS of any changes to the purchase price. If you were to refuse your solicitor to report the price change to Yorkshire BS then they would have to discontinue acting for you. In addition, Yorkshire BS and you would have to appoint a new conveyancing practitioner for your conveyancing in Sidmouth.
Why is leasehold purchase conveyancing in Sidmouth costs more?
The conveyancing fees for a leasehold premises in Sidmouth is often more expensive than on a freehold acquisition or disposal. This is due to the supplemental investigations necessary in communicating with the freeholder and managing agents to obtain information about whether the rent and maintenance charges have been cleared and whether there are any significant expenditure in the near future on repairs or maintenance of the block.
My wife and I purchased a renovated Victorian house in Sidmouth. Conveyancing lawyer acted for me and Aldermore. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold with the matching property. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Sidmouth and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with the conveyancing practitioner who conducted the conveyancing.
Is it simple use the search tool to choose a conveyancing lawyer in Sidmouth on the panel for my mortgage?
1st pick a mortgage company such as Nationwide Building Society, Leeds Building Society or Aldermore then specify your preferred area for example Sidmouth. Conveyancing organisations in Sidmouth and beyond will then be identified.
My conveyancing solicitor in Sidmouth has informed me that he requires personal identification documents asserting that this forms part of his requirements as a solicitor on the lender Conveyancing panel. This is news to me - can I refuse?
Anti-terror and anti-money-laundering rules require Sidmouth conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that the bank also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the mortgage company's UK Finance Lenders’ Handbook requirements