What does my ID and proof of funds have anything to do with my conveyancing in Welling? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Welling conveyancing firm will require evidence of your identity in all conveyancing transactions. This is usually dealt with by provision of a passport and an original bank statement or utility account showing where you reside.
In accordance with Money Laundering Regulations, property lawyers are obliged by law to validate not just the identity of conveyancing clients but also the source of fund that they receive in respect of any matter. An unwillingness to disclose this will result in your lawyer ending their retainer 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 appropriate authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
My brother-in-law has suggested I instruct a conveyancing solicitor in Welling. I need to find out whether they are accepted on the Platform Home Loans Ltd conveyancing panel. Can you or the lender confirm if they are on the panel?
The first thing you should do is contact your solicitor and ask them whether they are on the lender panel. Alternatively you should call Platform Home Loans Ltd who may be able to assist.
Various web forums that I have frequented warn that are a common reason for delay in Welling house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances during the legal transfer of property. Searches are not likely to feature in any holding up conveyancing in Welling.
I have recentlydiscovered that Action Conveyancing have closed. They conducted my conveyancing in Welling for a purchase of a freehold house 18 months ago. How can I be sure that the property is not still registered in the name of the former proprietor?
The quickest method to see if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Welling conveyancing specialists.
I'm purchasing my first flat in Welling with a loan from Clydesdale. The sellers would not budge the price so I negotiated £7000 of additionals instead. The sale representative suggested that I not disclose to my conveyancer about the extras as it would jeopardize my loan with the bank. 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.
Can you offer any advice when it comes to appointing a Welling conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Welling conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Welling conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be of use:
What are the legal fees for lease extension conveyancing? Can they put you in touch with clients in Welling who can give a testimonial?
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Welling conveyancing firm to act on my behalf?
Absolutely. We can put you in touch with a Welling conveyancing firm who can help.
An example of a Lease Extension decision for a Welling 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 affected 1 flat.