What does my ID and proof of funds have anything to do with my conveyancing in Balham? What am I being asked for?
In order to comply with Money Laundering Regulations any Balham 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 your correct address.
In accordance with Money Laundering Regulations, conveyancers are obliged by law to ascertain not just the ID of conveyancing clients but also the origin of the money that they receive in respect of any matter. An unwillingness to disclose this may result in your conveyancer ending their relationship 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 appropriate authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
I am selling our house in Balham and according to the buyers it appears that there is a possibility that the property was built on contaminated land. A local lawyer would know that there is no such problem. For the life of me I don't know why the purchasers instructed a factory type conveyancing practice as opposed to a conveyancing solicitor in Balham. We have lived in Balham for 5 years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to obtain clarification need.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You must 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 life insurance to cover that same illness)
I used Wolstenholmes a few years past for my conveyancing in Balham. Now, I need my documents but the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Balham of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Balham differ for new build properties?
Most buyers of new build or newly converted property in Balham approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Balham tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Balham or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a straight forward, chain free conveyancing. Balham is where the house is located. Is there any advice you can impart?
Flying freeholds in Balham are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Balham you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Balham may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Can you provide any advice for leasehold conveyancing in Balham with the purpose of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Balham can be reduced if you instruct lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the buyers’ conveyancers. If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Organising a duplicate share certificate is often a lengthy process and slows down many a Balham home move. If a new share is necessary, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity. Many freeholders or Management Companies in Balham charge for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Balham. Some Balham leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
I inherited a two-bedroom flat in Balham. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount due for a lease extension?
Most certainly. We can put you in touch with a Balham conveyancing firm who can help.
An example of a Lease Extension decision for a Balham flat is First Floor Flat 152a Ramsden Road in June 2009. The net result of the tribunals calculation produced a premium payable of £23,975. This case was in relation to 1 flat. The unexpired lease term was 56.67 years.