All was ready to move into my new home in Moor Row next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the lender. What does the insurance need to cover?
Any lawyer on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 instructions. These obligations are not specific to conveyancing in Moor Row.
In what way does my ID and proof of funds have anything to do with my conveyancing in Moor Row? What am I being asked for?
Moor Row conveyancing solicitors as well as nationwide property lawyers throughout the UK have an obligation under money laundering regulations to verify the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and evidence of address (typically a Utility Bill no older than three months).
Proof of source of funds is also required under the money laundering laws as solicitors are duty bound to ensure that the funds you are using to purchase a property (whether it be the deposit for exchange or the full purchase amount where you are a cash purchaser) has originated from an acceptable source (such as employment savings) and is not the fruits of criminal activity.
Despite weeks of looking the Title Certificate and documents to our property can not be found. The solicitors who handled the conveyancing in Moor Row 5 years ago are no longer around. What do I do?
Gone are the days when you need to have the physical original deeds to prove you own the land or premises, as the Land Registry have everything they need in a digital format.
I am buying a new build house in Moor Row with the aid of help to buy. The builders refused to reduce the price so I negotiated 6k of fixtures and fittings instead. The estate agent suggested that I not inform my solicitor about the extras as it may jeopardize my mortgage with the bank. 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 need to instruct a conveyancing practitioner in Moor Row for my purchase. Can I see a firm’s complaints history with the profession’s regulator?
One may search for published Solicitor Regulator Association (SRA) determinations stemming from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find details Pre 2008, or to check a firm's history, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The regulator may recorded telephone calls for training requirements.