What does my ID and proof of funds have anything to do with my conveyancing in Rhosesmor? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Rhosesmor conveyancing firm will require evidence of your identity in all conveyancing matters. This is usually satisfied by provision of a passport and an original bank statement or utility bill showing where you live.
In accordance with Money Laundering Regulations, conveyancing solicitors are obliged by law to ascertain not just the ID of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this may result in your solicitor terminating their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to notify the relevant authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
Me and my brother purchased a renovated Victorian property in Rhosesmor. Conveyancing lawyer acted for me and . I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold with the exact same address. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Rhosesmor and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with your conveyancing practitioner who conducted the purchase.
I'm purchasing a new build house in Rhosesmor benefiting from help to buy. The developers would not move on the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not to tell my lawyer about the side-deal as it could jeopardize my loan with the lender. Is this normal?.
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.