Me and my fiance are purchasing a 1 bedroom apartment in Wareham with a mortgage. We would like to retain our Wareham conveyancer, however the lender says he's not on their "panel". It appears that we have little choice but to use one of the lender panel conveyancing practices or keep our Wareham solicitor and pay for one of their panel firms to represent them. This feels very unfair; can we not insist that the bank use our Wareham solicitor ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Wareham conveyancing solicitor to apply to be on the conveyancing panel.
What does my ID and proof of funds have anything to do with my conveyancing in Wareham? What am I being asked for?
It is indeed that case that these requests have nothing to do with conveyancing in Wareham. Nowadays you can not proceed with any conveyancing process in the absence submitting proof of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a bank statement. Remember if you are supplying your driving licence as proof of identification it needs to be both the paper part and photo card part, one is not satisfactory without the other.
Evidence of your source of money is necessary under Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancer must retain this information on file. Your Wareham conveyancing practitioner will require evidence of proof of funds before they are able to accept any monies from you into their client account and they should also ask further queries regarding the origin of monies.
We are downsizing from our property in Wareham and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. A local conveyancer would know that there is no such problem. It does beg the question why the purchasers are using an internet conveyancing outfit rather than a conveyancing solicitor in Wareham. Having lived in Wareham for six years we know that this is a non issue. Do we get in touch with our local Authority to get clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I'm purchasing my first flat in Wareham with a loan from The Royal Bank of Scotland. The sellers would not budge the price so I negotiated £7000 of extras instead. The house builders rep advised me not inform my lawyer about this deal as it will put at risk my loan with The Royal Bank of Scotland. 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.
We are 14 days into a residential purchase having been recommend to conveyancers by the estate agent to do our conveyancing in Wareham. We are not happy. Could you you assist me in finding new solicitors?
They would have to be very bad to suggest diss instructing them. Has the mortgage offer been issued? In the event that it has you will need to inform them of the new conveyancer and ensure the mortgage documents are re-sent. Your solicitor ideally needs to be on the banks approved list to avoid supplemental fees and complications. That should be your first question of the new lawyers. Our find a solicitor tool should assist you in finding a bank approved lawyer for your home move in Wareham