I am soon to exchange buying a house in Monken Hadley but as a result of wreckage from some water damage at the property I have was able negotiate compensation from the owner of six thousand pounds by way of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process yet Bank of Ireland are not allowing this. Should they have been notified?
Any conveyancer that is on a Bank of Ireland approved list is obliged to advise Bank of Ireland of any changes to the sale price. If you prohibit your lawyer to disclose the reduction to Bank of Ireland then they would have to discontinue acting for you. In addition, Bank of Ireland and you would have to appoint a new property lawyer for your conveyancing in Monken Hadley.
What does my ID and proof of funds have anything to do with my conveyancing in Monken Hadley? Why is this being asked of me?
Monken Hadley conveyancing solicitors and indeed property practitioners accross the UK have an obligation under money laundering regulations to check the identity 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 identity (usually a Passport or Driving Licence) and proof of address (usually a Utility Bill less than 3 months old).
Confirmation of the origin of funds is also required under the money laundering statutes as solicitors are obliged to check that the monies you are utilising to buy a property (whether it be the deposit for exchange or the total purchase amount where you are a cash purchaser) has originated from legitimate source (such as employment savings) rather than the product of criminal activity.
2 months have elapsed following my purchase conveyancing in Monken Hadley took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
My husband and I are first time buyers - agreed a price, yet the selling agent informed us that the owners will only proceed if we instruct the agent's chosen solicitors as they need an ‘expedited deal’. My instinct tells me that we should use a high street solicitor accustomed to conveyancing in Monken Hadley
We suspect that the seller is unaware of this requirement. If they desire ‘a quick sale', turning down a serious buyer is not the way to achieve this. Speak to the owners direct and make the point that (a)you are motivated purchasers (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)however you intend to use your own,trusted Monken Hadley conveyancing firm - not the ones that will provide their negotiator at the agency a referral fee or achieve conveyancing figures set by corporate headquarters.
Last July I purchased a leasehold flat in Monken Hadley. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner 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. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
After months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Monken Hadley. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing landlord or where there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to determine the price payable.
An example of a Lease Extension case for a Monken Hadley residence is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case affected 1 flat. The unexpired lease term was 76 years.
What are the compelling benefits to selecting a high street conveyancer in Monken Hadley
Plenty of house movers in Monken Hadley choose a local lawyer so that they can attend the lawyer’s offices if they have problems, and to execute documents without using the Royal Mail.
There is a distinct edge when opting for a conveyancing practitioner nearby to a premises you are planning to purchase, due to the familiarity of the area and possible local issues - however this is debatable. The majority of conveyancers conduct their communications online and could be almost anywhere.