In what way does my ID and proof of funds have anything to do with my conveyancing in Braintree? Is this really warranted?
Braintree conveyancing solicitors as well as nationwide property lawyers accross the UK have an obligation under Anti-terror and anti-money-laundering rules to verify the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and proof of address (typically a Utility Bill no older than three months).
Confirmation of source of monies is also required in accordance with the money laundering statutes as solicitors are mandated to check that the funds you are using to buy a property (be it the exchange deposit or the full purchase price if you are buying mortgage free) has originated from legitimate source (such as employment savings) rather than the fruits of criminal behaviour.
Is there a search tool that I can use to investigate if the solicitor carrying out my conveyancing in Braintree is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Nationwide Building Society thus paying £175.00 in additional legal bill.
You should make use of the search tool on this site. Please choose the mortgage company and type ‘Braintree’ or your location and you will see a number of lawyer located in Braintree or near you.
Do commercial conveyancing searches reveal proposed roadworks that may impact a commercial site in Braintree?
Its becoming the norm that commercial conveyancing solicitors in Braintree will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Braintree. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Braintree.
For each commercial conveyancing transaction in Braintree it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can result in delays to Braintree commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Braintree.
The deeds to my property are lost. The solicitors who did the conveyancing in Braintree 5 years ago no longer exist. What do I do?
As long as you have a registered title the information relating to your ownership will be documented by HMLR with a Title Number. It is easy to carry out a search at the Land Registry, identify your house and get up to date copies of the Registered Entries for less than a fiver. If the property is Leasehold then the Land Registry will in most cases hold a certified copy of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
Just had an offer accepted on a new build flat in Braintree. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Braintree
-
Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I've recently bought a leasehold flat in Braintree. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a 2 bed flat in Braintree, conveyancing was carried out 4 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Braintree with a long lease are worth £201,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease terminates on 21st October 2090
You have 65 years unexpired the likely cost is going to span between £13,300 and £15,400 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.