I am obtaining a mortgage offer from Nat West. I would like to employ the services of a Licensed Conveyancer in Camelford. Does the Nat West Conveyancing panel include Licensed Conveyancers?
The Nat West approved solicitor list is, like many other lenders, represented by the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
What does my ID and proof of funds have anything to do with my conveyancing in Camelford? Is this really necessary?
It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Camelford. However these days you will not be able to proceed with any conveyancing process without first submitting evidence of your identity. This usually takes the form of a either your passport or driving licence as well as a bank statement. Please note that if you are providing your driving licence as proof of identification it needs to be both the paper part and photo card part, one is not acceptable without the other.
Proof of your source of funds is required in accordance with the Money Laundering Regulations. Don’t be offended when you are asked to produce this as your conveyancer must have this information on file. Your Camelford conveyancing practitioner will require evidence of proof of funds prior to accepting any funds from you into their client account and they will also ask additional queries regarding the origin of monies.
I have paid off my mortgage with Kent Reliance. I assume I don't need a Camelford lawyer on the Kent Reliance panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Kent Reliance mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Kent Reliance mortgage from the register. Kent Reliance, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Kent Reliance has sent the Land Registry the discharge electronically, and
- Kent Reliance has instructed the Land Registry to do so
I am due to exchange contracts on my apartment. I had a double glazing fitted in February 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Principality are being problematic. The Camelford solicitor who is on the Principality conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Principality are requiring a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
After what seems like an age I have had an offer on a flat in Camelford accepted, the vendors do nevertheless have a tied purchase. The vendors have offered on a property, but it’s not been accepted yet, and are looking at other flats in the pipeline. I have selected a nearby conveyancing solicitor in Camelford. What do I do now? At what point should I apply for the mortgage with Principality?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is in the region of one thousand pounds, then survey, Camelford conveyancing search costs, etc). First, you must ensure that your lawyer is on the Principality conveyancing panel. As to the next stages this very much dictated by the specifics of your case, desire for this property and on the state of the market. During a rising market many home buyers will apply for the mortgage with Principality and arrange for the valuation and only if it was satisfactory would they pay their lawyer to proceed with searches.
My colleague suggested that where I am buying in Camelford I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Camelford conveyancing searches. It is not a small document of about 40 pages, listing and detailing significant information about Camelford around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Camelford Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Camelford Education with plans and statistics, Local Amenities and other useful information about Camelford.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one round the corner in Camelford I like with a park and railway links nearby, the downside is that it only has 49 remaining years left on the lease. I can't really find anything else in Camelford for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan that many years may be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.