What does my ID and proof of funds have anything to do with my conveyancing in East Croydon? Why is this being asked of me?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to check the identity of the potential client they are dealing with prior to agreeing to accepting their conveyancing retainer. The Terms and Conditions that you are required to sign will no doubt confirm this. Your lender will also require certain documents to be viewed. Should you refuse to supply ID verification documents, your conveyancer would not be able to act for you.
I am considering applying for a Principality mortgage for purchase of a newly converted (under development) in East Croydon with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Principality ?
There is nothing to stop you using your solicitor, but Principality will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Despite weeks of looking the Title Certificate and documents to my property are lost. The solicitors who conducted the conveyancing in East Croydon 5 years ago no longer exist. Will I be able to sell the house?
You no longer need to hold title deeds to evidence that you are the owner of your registered land or premises, as the Land Registry hold details of all registered land or property electronically.
I am purchasing a new build house in East Croydon with a loan from Yorkshire Building Society. The sellers refused to budge the amount so I negotiated 6k of fixtures and fittings instead. The property agent suggested that I not disclose to my solicitor about the extras as it would affect my mortgage with Yorkshire Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Having had my offer accepted I require leasehold conveyancing in East Croydon. Before I get started I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in East Croydon - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have given up negotiating a lease extension in East Croydon. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We can put you in touch with a East Croydon conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a East Croydon premises is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case was in relation to 4 flats. The unexpired lease term was 98 years.
One month into purchasing a property in East Croydon. Conveyancing solicitor has told us the property is "Leasehold". Does this make a difference on the salability of the property?
East Croydon conveyancing does not ordinarily involve leasehold houses. The main factor here is the remaining lease term and the ground rent. If it's 999 years with a nominal rent, it's almost the same as freehold, so it shouldn't impact the saleability too much.
At the other extreme, if it's, say, 50 years it is bound to have a material effect on the saleability, and most likely wouldn't be acceptable to the lender. The length of lease and ground rent will be stated in the lease provided to your lawyer.