In what way does my ID and proof of funds have anything to do with my conveyancing in Hockley? Why is this being asked of me?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Hockley. Nowadays you will not be able to complete any conveyancing transaction in the absence handing over proof of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a utility bill. Remember if you are providing your driving licence as evidence of ID it needs to be both the paper element and photo card part, one is not acceptable in the absence of the other.
Evidence of your source of money is required under Money Laundering Regulations. Don’t be offended when you are asked to produce this as your lawyer must have this information on record. Your Hockley conveyancing practitioner will need to see evidence of proof of funds prior to accepting any monies from you into their client account and they may also ask further questions concerning the source of funds.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Hockley. My lender is Accord Mortgages
Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 21/9/2020, the requirements read as follows :
Various online forums that I have come across warn that are the number one cause of hinderance in Hockley conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances during the legal transfer of property. Searches are not likely to feature in any holding up conveyancing in Hockley.
I'm purchasing a new build house in Hockley with a mortgage from National Westminster Bank. The developers refused to move on the price so I negotiated £7000 of extras instead. The house builders rep told me not inform my solicitor about the extras as it would affect my mortgage with National Westminster Bank. 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.
I'm remortgaging my primary house to a buy to let loan with Platform Home Loans Ltd and I will use the ballance of the raised equity as a deposit on further house. The location we are talking about is Hockley. Will your conveyancers be able to act for both sets of banks and link together the transactions?
Do use our search tool on this site to be sure that the lawyers are on the appropriate lender panels. On the basis that they are the lawyer will be able to connect the two transactions but you should talk with you lawyer and communicate your desired outcome and requirements.