Unfortunately I am unable to travel far from Salcombe. Is there a reason why all Salcombe conveyancing practitioners are not on all mortgage company panels?
Banks point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The dismissal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which triggered a major policy change in the sector. It led to lenders pruning a number of firms from their official list of approved conveyancers .
My solicitor has uncovered a a legal deficiency with the lease for the property we are purchasing in Salcombe. The other side have offered title insurance as a solution. We are content with insurance and will cover the costs. Our solicitor has advised that he must check that the bank is happy with this solution. Who is the client here, us or the mortgage company ?
Even though you have a mortgage offer from the bank does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the mortgage company are the client. The appropriate lender conditions have to be complied with.
five months have elapsed following my purchase conveyancing in Salcombe took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. 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.
My partner has suggested that I appoint his conveyancing solicitors in Salcombe. Do I follow his advice?
Much as we are happy to recommend a Salcombe conveyancing lawyer the best way to choose a conveyancing practitioner is to get recommendations from friends or family who have actually previously instructed the conveyancer that you are considering.
I am purchasing a house mortgage free. I have provided lawyer with two separate proof of photo ID, bank statement, numerous utility bills. Now he needs a copy from a probate lawyer stating that the funds are in place and that it has come from inheritance and not selling fake DVD.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Salcombe conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.