In what way does my ID and proof of funds have anything to do with my conveyancing in Plumstead? Is this really warranted?
It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Plumstead. However these days you will not be able to proceed with any conveyancing transaction in the absence providing proof of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a utility bill. Please note that if you are supplying your driving licence as evidence of ID it must be both the paper part as well as the photo card part, one is not satisfactory without the other.
Proof of the source of money is required under Money Laundering Regulations. Don’t be offended when when this is requested of you as your lawyer will need to have this information on file. Your Plumstead conveyancing practitioner will need to see evidence of proof of funds before they are able to accept any money from you into their client account and they may also ask further queries regarding the origin of monies.
My uncle passed away six months ago and as sole heir and executor I was left the property in Plumstead. The house had a relatively small loan remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Skipton, pay off the mortgage. Is this allowed?
If you intend to re-mortgage then Skipton will insist on your using a conveyancer on the Skipton conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Skipton conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Skipton mortgage is registered as a charge at the Land Registry.
I am purchasing a new build house in Plumstead with the aid of help to buy. The sellers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep told me not to tell my conveyancer about the deal as it may adversely affect my mortgage with the lender. Should I keep quiet?.
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.
I have been on the look out for a leasehold apartment up to £305k and identified one near me in Plumstead I like with amenity areas and railway links in the vicinity, however it only has 61 years unexpired on the lease. There is not much else in Plumstead suitable, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage that many years will likely be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
What tools are available to identify a Plumstead law firm on the Virgin Money conveyancing panel? I have wheels and am willing to travel upto 20kilometers to meet the conveyancer.
You can use the tool on this page. Please select a lender and your location and you will see a number of Plumstead conveyancing lawyers based on proximity. We have detailed some Plumstead conveyancing firms towards the end of this page and you can telephone them to check if they are on the Virgin Money panel
I am employed by a busy estate agent office in Plumstead where we have experienced a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Plumstead conveyancing firms. Please can you confirm whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the leaseholder of a two-bedroom flat in Plumstead. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
Most certainly. We can put you in touch with a Plumstead conveyancing firm who can help.
An example of a Lease Extension decision for a Plumstead premises is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.