In what way does my ID and proof of funds have anything to do with my conveyancing in Fowey? What am I being asked for?
It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Fowey. Nowadays you will not be able to proceed with any conveyancing process in the absence handing over proof of your identity. This usually takes the form of a either your passport or driving licence and a council tax bill. Remember 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 satisfactory in the absence of the other.
Verification of the source of monies is required under Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancing solicitor must retain this information on record. Your Fowey conveyancing lawyer will require evidence of proof of funds prior to accepting any monies from you into their client account and they may also ask further queries concerning the source of funds.
We are expecting a mortgage offer soon. The bank mentioned the loan came with free conveyancing. Does this mean I have to use their panel lawyer as I would much rather appoint a Fowey based conveyancing firm?
Do check but the the likelihood is that give you one of their panel solicitors should you accept the "fee-free" incentive. Speak to the bank and determine if they offer you a cash alternative. Some banks have previously offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor near Fowey.
A friend informed me that in buying a property in Fowey there may be various restrictions preventing external alterations to the property. Is this right?
We are aware of a number of properties in Fowey which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Fowey should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Does a directory service exist listing RBS panel conveyancers in Fowey on the Building Society Association’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association sites. A small selection of banks make their panel listings open the public over the internet. If you are seeking to appoint a Fowey conveyancing practitioner on the RBS please use our tool.
I am due to exchange contracts on my flat. I had a double glazing fitted in October 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Yorkshire BS are being pedantic. The Fowey solicitor who is on the Yorkshire BS conveyancing panel is saying indemnity insurance will be fine but Yorkshire BS are requiring a building regulation certificate. Why do Yorkshire BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Yorkshire BS have referred the matter to their valuer. The reason why Yorkshire BS 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.
I am purchasing my first flat in Fowey with a mortgage from Leeds Building Society. The builders would not reduce the price so I negotiated five thousand pounds worth of extras instead. The sale representative told me not reveal to my solicitor about this deal as it will impact my loan with Leeds Building Society. 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.
We have AIP from Chelsea Building Society who said that they will loan up to £400k. At what point do we need to instruct a lawyer for conveyancing? Fowey is where we are .
You can appoint a solicitor now so that the property lawyer can open the file so they can commence their ID checks etc. Once you wish them to commence work you will be asked for a deposit usually approximately £225. That should normally be after you have the mortgage offer and survey back, nevertheless if you want to speed matters you can get going quicker even though you may be risking some expense.