What does my ID and proof of funds have anything to do with my conveyancing in Desborough? What am I being asked for?
You are right in these requests have nothing to do with conveyancing in Desborough. However these days you will not be able to proceed with any conveyancing transaction if you have not providing proof of your identity. Ordinarily this 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 evidence of ID it must be both the paper element and photo card part, one is not sufficient in the absence of the other.
Verification of your source of monies is necessary under Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancer must have this information on record. Your Desborough conveyancing lawyer will need to see evidence of proof of funds prior to accepting any funds from you into their client account and they should also ask further queries regarding the origin of monies.
I am buying my first flat in Desborough with a mortgage from Bank of Scotland. The builders would not move on the price so I negotiated 6k of additionals instead. The sale representative suggested that I not reveal to my conveyancer about the side-deal as it could impact my loan with the lender. Should I keep quiet?.
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.
I am looking for a ground for flat up to £305k and found one close by in Desborough I like with amenity areas and transport links nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Desborough suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a mortgage the shortness of the lease will likely be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
Do I need to be suspicious by brokers that I am dealing with are encouraging me to use a national conveyancing firm as opposed to a High Street Desborough conveyancing firm?
As with lots of professional services, often referrals from family and friends can be worth their weight in gold. But there are many players in a conveyancing deal; estate agents, financial adviser and banks might all recommend conveyancers to choose. On occasion the conveyancers might be known to one of the organisations as experts in their field, but occasionally there exists a financial incentive behind the endorsement. You have the right to appoint your preferred conveyancer. You need to be aware that some banks operate an approved list of conveyancers you have to use for the mortgage aspect of your conveyancing.
My cousin is buying a basement flat in Desborough. He was given a quote by the solicitor connected to the estate agents and it came to £1156 . It was ten years ago since I sold and bought a home and it cost was £495. Have fees really escalated to that extent?
You should visit 3 or 4 local Desborough conveyancing firms seeking prices. It is advisable to base your choice not only on cost, but on promptness and on how comprehensive the reply was.