What does my ID and proof of funds have anything to do with my conveyancing in Shortlands? What am I being asked for?
To satisfy the Money Laundering Regulations any Shortlands conveyancing firm will require proof of identity in all conveyancing matters. This is normally 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, conveyancers are required to ascertain not just the identity of conveyancing clients but also the origin of monies that they receive in respect of any matter. An unwillingness to disclose this will result in your lawyer terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to inform the relevant authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Shortlands. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 11/5/2022, the requirements read as follows :
I used Stirling Law a few years past for my conveyancing in Shortlands. Now, I need my files however the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Shortlands of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been on the look out for a ground for flat up to £245,000 and identified one round the corner in Shortlands I like with amenity areas and railway links in the vicinity, however it only has 51 years on the lease. I can't really find anything else in Shortlands in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage the shortness of the lease may be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
Should I appoint a Shortlands conveyancing solicitor who is local to the property I am purchasing? I have an old university friend who can deal with the legal formalities however they are based 400kilometers drive away.
The primary upside of using a high street Shortlands conveyancing practice is that you can visit the firm to sign documents, hand in your identification documents and apply pressure on them if necessary. Having local Shortlands know how is a benefit. However it's more important to get someone that will pull out all the stops for you. If you know people who instructed your friend and in the main were happy that must outweigh using an unknown Shortlands conveyancing solicitor solely due to them being Shortlands based.
I am attracted to a two maisonettes in Shortlands both have approximately fifty years remaining on the leases. Will this present a problem?
A lease is a right to use the property for a period of time. As the lease gets shorter the marketability of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this area.
We have reached the end of our tether in seeking a lease extension in Shortlands. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to calculate the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Shortlands residence is Ravensbourne Lodge 4 Highland Road in February 2013. the Tribunal held that the amount payable for the freehold was £22,268