What does my ID and proof of funds have anything to do with my conveyancing in Bedminster? Why is this being asked of me?
You are right in these requests have nothing to do with conveyancing in Bedminster. However these days you can not complete any conveyancing transaction if you have not supplying evidence of your identity. This usually takes the form of a either your passport or driving licence and a bank statement. Please note that if you are providing your driving licence as evidence of ID it needs to be both the paper part and photo card part, one is not acceptable in the absence of the other.
Verification of your source of money is mandated under Money Laundering Regulations. Don’t be offended when when this is requested of you as your conveyancing solicitor will need to have this information on file. Your Bedminster conveyancing lawyer will need to see evidence of proof of funds prior to accepting any monies from you into their client account and they will also ask further questions concerning the origin of funds.
A friend suggested that where I am purchasing in Bedminster I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally included in the estimate for your Bedminster conveyancing searches. It is not a small document of more than thirty pages, listing and detailing important information about Bedminster around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data about Bedminster.
It has been 2 months since my purchase conveyancing in Bedminster completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. 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'm buying a new build house in Bedminster with a mortgage from Alliance & Leicester . The sellers refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not reveal to my solicitor about the side-deal as it will impact my mortgage with the lender. Do I keep my lawyer in the dark?.
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.
I decided to have a survey carried out on a house in Bedminster before instructing lawyers. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some banks will not grant a loan on such a house.
It depends who your proposed lender is. Bank of Scotland has different requirements from Nationwide. If you call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bedminster. Conveyancing may be slightly more expensive based on your lender's requirements.