I decided to go with a County Durham based lawyer for my conveyancing in County Durham last week. Going through the Terms and Conditions it is apparent thatI am responsible for fees even if the dealfalls through. Would I be best advised to appoint an on-line solicitor practice advertising no-sale-no-fee conveyancing in County Durham?
It is usually ‘give and take’ in that if "No Sale No Fee" is offered then the fee levels will generally be higher to counteract those transactions that do not proceed. Also remember that these schemes tend not to cover expenses for example County Durham conveyancing search fees.
What does my ID and proof of funds have anything to do with my conveyancing in County Durham? Is this really necessary?
It is indeed that case that these requests have nothing to do with conveyancing in County Durham. Nowadays you will not be able to complete any conveyancing transaction if you have not submitting evidence of your identity. This usually takes the form of a either your passport or driving licence as well as a bank statement. Remember if you are providing your driving licence as proof of identification it needs to be both the paper section as well as the photo card part, one is not satisfactory without the other.
Proof of the source of funds is necessary under Money Laundering Regulations. Don’t be offended when you are asked to produce this as your conveyancing solicitor must retain this information on file. Your County Durham conveyancing solicitor will need to see evidence of proof of funds before they are able to accept any money from you into their client account and they should also ask additional questions regarding the origin of funds.
I am the single beneficiary of my late father’s will and I have everything in my name now, including the my former home in County Durham. Conveyancing formalities meant that the Land Registry date was in April. I plan to dispose of the property. I do know about the CML six month 'rule', which means that my proprietorship will be treated the same way as though I had purchased the property in April. Do I have to wait 6 months to sell?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. Most lenders would take a pragmatic view as this provision is primarily there to pick up on subsales or the flipping of property.
I am expecting a AIP from TSB this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do TSB recommend any County Durham solicitors on the TSB conveyancing panel, or is it better to go independently?
You will need to appoint County Durham solicitors independently although you'll need to choose one on the TSB conveyancing panel. The solicitor represents both you and TSB through the process.
I recently had an offer accepted on an apartment in County Durham. My mortgage broker recommended their conveyancers. I paid an upfront payment of £225. A few days later, the property lawyer contacted me sheepishly admitting that they were not on the Lloyds conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Lloyds panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am purchasing my first flat in County Durham with the aid of help to buy. The builders would not reduce the price so I negotiated five thousand pounds worth of extras instead. The estate agent told me not disclose to my conveyancer about this extras as it will impact my loan with the lender. 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.
As co-executor for the will of my aunt I am selling a property in Newport but reside in County Durham. My conveyancer (approximately 250 miles awayrequires that I sign a statutory declaration before the transaction finalising. Can you recommend a conveyancing solicitor in County Durham to attest and place their company stamp on the document?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are located in County Durham