In what way does my ID and proof of funds have anything to do with my conveyancing in Long Stratton? Why is this being asked of me?
Long Stratton conveyancing solicitors and indeed property lawyers throughout the UK have a duty under Anti-terror and anti-money-laundering rules to verify the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients are required to supply two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and evidence of address (typically a Bank Statement less than 3 months old).
Proof of the origin of monies is also required in compliance with the money laundering statutes as lawyers are obliged to ensure that the funds you are using to acquire a property (be it the exchange deposit or the full purchase monies if you are a cash purchaser) has come from legitimate source (such as employment savings) as opposed to the proceeds of illegitimate activity.
I decided to have a survey completed on a property in Long Stratton before appointing lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some lenders tend refuse to grant a loan on such a house.
It varies from the lender to lender. Lloyds has different instructions from Birmingham Midshires. If you contact us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Long Stratton. Conveyancing may be slightly more expensive based on your lender's requirements.
In what way can the Landlord & Tenant Act 1954 impact my commercial property in Long Stratton and how can your lawyers assist?
The 1954 Act gives a safeguard to commercial tenants, granting the legal entitlement to apply to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and help with commercial conveyancing in Long Stratton
In my capacity as executor for the estate of my uncle I am selling a property in Newport but I am based in Long Stratton. My lawyer (approximately 260 miles awayhas requested that I sign a statutory declaration ahead of completion. Can you recommend a conveyancing solicitor in Long Stratton who can witness this legal document for me?
strictly speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will be fine regardless of whether they are Long Stratton based
What advice can you give us when it comes to appointing a Long Stratton conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Long Stratton conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Long Stratton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be useful:
-
What are the charges for lease extension work?
Leasehold Conveyancing in Long Stratton - Sample of Questions you should consider before buying
-
Make sure you enquire if there is anything that is prohibited in the lease. By way of example it is very common in Long Stratton leases that pets are not permitted in in a block in Long Stratton. If you love the flatin Long Stratton yet your cat is not allowed to make the move with you then you have a very hard determination. Best to be warned whether window replacement or some other major work is due shortly to be shared between the leasehold owners and may well materially increase the the service costs or necessitate a one time invoice. How many of the leaseholders are in arrears for their service charge payments?
Our conveyancer in Long Stratton has discovered a a legal deficiency with the lease for the property we are buying in Long Stratton. The other side have offered defective title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer has advised that as he is on the lender conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.