What does my ID and proof of funds have anything to do with my conveyancing in Coombe? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Coombe conveyancing firm will require evidence of your identity in all conveyancing matters. This is usually dealt with by provision of a passport and an original bank statement or utility bill evidencing where you live.
In accordance with Money Laundering Regulations, conveyancing solicitors are required to ascertain not only the identity of conveyancing clients but also the origin of monies that they receive in respect of any matter. An unwillingness to disclose this may lead to your solicitor cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to notify the appropriate authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
My Solicitor in Coombe has never been on on the Lloyds TSB Bank Solicitor Panel. Can I still continue with my family solicitor notwithstanding that they are not on the Lloyds TSB Bank list of approved lawyers?
The limited options available to you here include:
- Complete the purchase with your preferred Coombe lawyers but Lloyds TSB Bank will need to retain a solicitor on their list of acceptable firms. This will result in additional overall legal charges as well as cause frustration.
- Choose an alternative lawyer to act in the purchase, obviously checking they are on the Lloyds TSB Bank panel
Will my conveyancer be asking questions about flooding as part of the conveyancing in Coombe.
The risk of flooding is if increasing concern for solicitors dealing with homes in Coombe. There are those who acquire a house in Coombe, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to offer advice on flood risk, but there are a numerous searches that may be undertaken by the purchaser or by their solicitors which can give them a better understanding of the risks in Coombe. The standard completed inquiry forms supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual question of the seller to determine if the property has historically flooded. In the event that the residence has been flooded in past which is not disclosed by the seller, then a buyer could issue a legal claim for losses as a result of such an misleading response. The purchaser’s conveyancers should also conduct an environmental report. This will disclose if there is any known flood risk. If so, further investigations should be made.
I decided to have a survey completed on a property in Coombe before retaining lawyers. I have been told that there is a flying freehold element to the house. My surveyor has said that some mortgage companies may not grant a mortgage on such a premises.
It varies from the lender to lender. Lloyds has different requirements from Nationwide. If you contact us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Coombe. Conveyancing will be smoother if you use a solicitor in Coombe especially if they are acquainted with such properties in Coombe.
I need to find a conveyancing solicitor for sale conveyancing in Coombe. I've stumble across a web site which seems to have the perfect solution If it is possible to get all formalities completed via web that would be preferable. Should I 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?
Can you provide any advice for leasehold conveyancing in Coombe from the perspective of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Coombe can be avoided where you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ conveyancers. If you are supposed to have a share in the freehold, you should ensure that you have the original share document. Organising a duplicate share certificate can be a lengthy process and delays many a Coombe conveyancing deal. If a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible. You may think that you are aware of the number of years left on your lease but it would be wise to verify this by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. The majority of freeholders or Management Companies in Coombe charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Coombe. If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as over rather than ongoing.
I am the proprietor of a ground floor flat in Coombe. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium due for a lease extension?
in cases where there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to decide the amount due.
An example of a Lease Extension matter before the tribunal for a Coombe residence is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case was in relation to 1 flat.
