In what way does my ID and proof of funds have anything to do with my conveyancing in Hyde? Is this really necessary?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to check the identity of the potential client they are dealing with before they can accept their conveyancing business. The Client Care letter that you are required to sign will no doubt stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. If you refuse to hand over ID verification documents, your conveyancer can not take you on as a client.
I am considering applying for a Santander mortgage for purchase of a newly converted (under development) in Hyde with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Santander ?
In theory, you could use a solicitor that is not on the Santander conveyancing panel, but Santander would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I have been told that property searches are a common reason for hinderance in Hyde house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of holding up conveyancing in Hyde.
4 months have gone by following my purchase conveyancing in Hyde completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying my first flat in Hyde benefiting from help to buy. The sellers would not reduce the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent suggested that I not disclose to my conveyancer about this side-deal as it will adversely affect my mortgage with the lender. Should I keep quiet?.
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.