Our Ammanford lawyer has uncovered a difference between the information in the valuation report and what is revealed within the title deeds. My solicitor has advised that he is obliged to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s course or action appropriate?
Your lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
In what way does my ID and proof of funds have anything to do with my conveyancing in Ammanford? Is this really necessary?
It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Ammanford. However these days you can not complete any conveyancing transaction without first submitting evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a council tax bill. Please note that if you are providing your driving licence as evidence of ID it needs to be both the paper part as well as the photo card part, one is not satisfactory without the other.
Verification of your source of monies is required under Money Laundering Regulations. You should not be offended when when this is requested of you as your lawyer will need to retain this information on record. Your Ammanford conveyancing lawyer will need to see evidence of proof of funds prior to accepting any money from you into their client account and they should also ask further questions concerning the origin of monies.
Do I need to attend the offices of the solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Ammanford so that I can pop in to their offices if required.
These days approved lawyers for mortgage companies conduct the vast majority of communications via the post, internet or over phone calls. This means that they can undertake the legal work for your home move no matter where you live in England or Wales. That being said you should check if you have the option of visiting the offices of your conveyancing lawyer if just in case this is required.
three months have gone by since my purchase conveyancing in Ammanford took place. I have checked the Land Registry site 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.
Due to the encouragement of my in-laws I had a survey completed on a house in Ammanford in advance of appointing solicitors. I have been advised that there is a flying freehold aspect to the house. Our surveyor has said that some banks tend refuse to issue a mortgage on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. If you e-mail us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Ammanford. Conveyancing will be smoother if you use a solicitor in Ammanford especially if they are acquainted with such properties in Ammanford.