What does my ID and proof of funds have anything to do with my conveyancing in Wedmore? What am I being asked for?
You are right in these requests have nothing to do with conveyancing in Wedmore. Nowadays you can not complete any conveyancing process in the absence providing evidence of your identity. This usually takes the form of a either your passport or driving licence and a bank statement. Please note that if you are supplying your driving licence as proof of identification it must be both the paper element as well as the photo card part, one is not sufficient without the other.
Proof of your source of funds is necessary under Money Laundering Regulations. Don’t be offended when when this is requested of you as your conveyancer must have this information on record. Your Wedmore conveyancing solicitor will need to see evidence of proof of funds prior to accepting any money from you into their client account and they will also ask additional questions concerning the source of monies.
We are close to exchanging contracts on the sale of our home in Wedmore and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any local conveyancer would know this is not the case. It does beg the question why the purchasers are using an internet conveyancing firm rather than a conveyancing solicitor in Wedmore. Having lived in Wedmore for six years we know of no issue. Should we contact our local Authority to seek confirmation need.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You need to enquire of 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 life insurance to cover that same illness)
I am buying my first flat in Wedmore with the aid of help to buy. The developers refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The estate agent told me not disclose to my conveyancer about the side-deal as it may adversely affect my loan with Alliance & Leicester . 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.
Am I right to be suspicious about third parties that I am dealing with are encouraging me to use an online conveyancing firm as opposed to a High Street Wedmore conveyancing company?
As is the case with many service providers, often input from relatives can be very helpful. But there are many parties with a vested interest in a conveyancing matter; estate agents, financial adviser and mortgage companies may put forward lawyers to use. Sometimes the solicitors might be known to one of the organisations as experts in their field, but occasionally there behind the scenes financial incentive behind the endorsement. You have the right to appoint your own lawyer. However, bear in mind that many mortgage providers specify a panel list of law firms you are obliged to use for the lender aspect of your house move.
My conveyancer in Wedmore is asking me for identification documents stating that this is part of his requirements as a conveyancer on the mortgage company Conveyancing panel. This is news to me - can I refuse?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the mortgage company. This is not unique to conveyancing in Wedmore