Do the conveyancing solicitors listed on your site carry out conveyancing in Spondon by way of an attended exchange?
We do have a number of conveyancing experts who can conduct one day exchanges. You should call us to receive a costs illustration and details as to dates.
What does my ID and proof of funds have anything to do with my conveyancing in Spondon? Is this really warranted?
Spondon conveyancing solicitors and indeed property practitioners accross the UK have a duty under Anti-terror and anti-money-laundering rules to check the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients are required to supply two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and evidence of address (usually a Bank Statement less than 3 months old).
Evidence of source of funds is also necessary in compliance with the money laundering regulations as conveyancers are duty bound to check that the money you are utilising to buy a property (whether it be the deposit for exchange or the full purchase amount if you are buying without a mortgage) has come from an acceptable source (such as employment savings) and is not the proceeds of illegitimate activity.
I am buying a new build house in Spondon with a mortgage from The Royal Bank of Scotland. The developers would not reduce the amount so I negotiated 6k of fixtures and fittings instead. The property agent told me not inform my conveyancer about this extras as it will impact my mortgage with The Royal Bank of Scotland. Do I keep my lawyer in the dark?.
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 have been on the look out for a flat up to £235,500 and identified one close by in Spondon I like with open areas and station in the vicinity, the downside is that it's only got 49 years on the lease. There is not much else in Spondon for this price, so just wondered if I would be making a grave error buying a short lease?
Should you require a home loan the remaining unexpired lease term may be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
Do I need to be wary by brokers that I am dealing with are recommending an online conveyancing firm rather than a High Street Spondon conveyancing practice?
As with many professional services, often input from relatives can be most helpful. Nevertheless there are many players in a conveyancing deal; estate agents, financial adviser and banks might all recommend conveyancers to appoint. On occasion these conveyancers might be known to one of the organisations as being good in their field, but sometimes there exists a commercial relationship behind the recommendation. You have the right to select your preferred conveyancer. Don't forget that the majority of banks specify a panel list of lawyers you have to use for the lender aspect of your transaction.