In what way does my ID and proof of funds have anything to do with my conveyancing in Grays? What am I being asked for?
Grays conveyancing solicitors and indeed property practitioners throughout the UK have a duty under money laundering regulations to check the identity of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to provide two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and evidence of address (typically a Utility Bill no older than three months).
Evidence of the origin of funds is also necessary in accordance with the money laundering statutes as solicitors are required to ensure that the monies you are using to acquire a property (be it the exchange deposit or the total purchase amount if you are a cash purchaser) has come from a reputable source (such as an inheritance) rather than the proceeds of criminal behaviour.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Grays?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Grays. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am purchasing a new build house in Grays benefiting from help to buy. The builders would not budge the price so I negotiated 6k of additionals instead. The house builders rep suggested that I not disclose to my lawyer about this side-deal as it will 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.
I am looking for a ground for flat up to £235,500 and found one close by in Grays I like with amenity areas and railway links in the vicinity, however it only has 52 years unexpired on the lease. There is not much else in Grays in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the shortness of the lease may be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
I need to appoint a conveyancing solicitor for residential conveyancing in Grays. I have discover a site which seems to have the ideal solution If there is a chance to get all formalities done via email that would be preferable. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Grays. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
Most houses in Grays are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Grays in which case you should be looking for a Grays conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will advise you fully on all the issues.
I am the registered owner of a ground-floor 1960’s flat in Grays. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
Absolutely. We can put you in touch with a Grays conveyancing firm who can help.
An example of a Lease Extension decision for a Grays property is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The unexpired residue of the current lease was 76 years.