My wife and I are buying a new build duplex in Castle Bromwich and my lawyer is informing me that she is duty bound to the mortgage company to reveal incentives from the developer. I am under pressure to sign contracts and I would rather not prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
What does my ID and proof of funds have anything to do with my conveyancing in Castle Bromwich? What am I being asked for?
Castle Bromwich conveyancing solicitors as well as nationwide property practitioners accross the UK have an obligation under money laundering regulations to check the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to supply two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and evidence of address (typically a Bank Statement less than 3 months old).
Evidence of source of monies is also necessary under the money laundering laws as lawyers are required to check that the monies you are utilising to acquire a property (be it the exchange deposit or the total purchase price where you are a cash purchaser) has originated from legitimate source (such as employment savings) rather than the proceeds of criminal activity.
I am planning to acquire a flat and need a conveyancing solicitor in Castle Bromwich who is on the Clydesdale solicitor. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Clydesdale in certain locations such as Castle Bromwich. We dont recommend any particular firm.
My friend advised me that if I am buying in Castle Bromwich I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes included in the estimate for your Castle Bromwich conveyancing searches. It is not a small report of more than thirty pages, listing and setting out important information about Castle Bromwich 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 type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information about Castle Bromwich.
How can the Landlord & Tenant Act 1954 impact my business offices in Castle Bromwich and how can your lawyers assist?
The 1954 Act gives a safeguard to business leaseholders, giving them the legal entitlement to apply to court for a renewal lease and continue in occupation when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act for protection and handle your commercial conveyancing in Castle Bromwich