What does my ID and proof of funds have anything to do with my conveyancing in West Harrow? Why is this being asked of me?
West Harrow conveyancing solicitors as well as nationwide property lawyers accross the UK have an obligation under Anti-terror and anti-money-laundering rules to verify the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and proof of address (usually a Utility Bill less than 3 months old).
Evidence of source of funds is also necessary under the money laundering regulations as lawyers are required to investigate that the money you are using to acquire a property (whether it be the deposit for exchange or the total purchase price where you are buying without a mortgage) has originated from legitimate source (such as an inheritance) rather than the product of illegitimate activity.
Do the Building Society Association intend to launch a search tool with a view to list solicitors on the Melton Mowbray Building Society conveyancing panel for instance in West Harrow?
We would not expect to be advised of any plans on the part of the BSA to promote such a tool.
The deeds to our property can not be found. The conveyancers who did the conveyancing in West Harrow 5 years ago are no longer around. What are my options?
Gone are the days when you need to have the physical deeds to prove you own the land or premises, as the Land Registry hold details of all registered land or property electronically.
I'm purchasing a new build house in West Harrow with a mortgage from Birmingham Midshires. The developers would not reduce the amount so I negotiated 6k of extras instead. The sale representative advised me not disclose to my conveyancer about this extras as it could put at risk my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Am I right to be suspicious by brokers that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a High Street West Harrow conveyancing firm?
As with many professional services, often referrals from relatives can be most helpful. But there are many people with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and lenders may suggest lawyers to use. Sometimes the lawyers might be known to one of the organisations as one of the best in their field, but occasionally there may be a financial incentive behind the endorsement. You have the discretion to select your preferred conveyancer. You need to be aware that most mortgage providers operate an approved list of conveyancers you must use for the lender aspect of your conveyancing.
I have just appointed agents to market my basement flat in West Harrow. Conveyancing has not commenced, but I have just received a half-yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the invoice as usual because all ground rent and service invoices will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I have had difficulty in trying to purchase the freehold in West Harrow. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to make a decision on the price.
An example of a Lease Extension case for a West Harrow premises is flat 93b Welldon Crescent in May 2009. The Tribunals valuation for a 90-year lease extension of this fat was £13,171 This case was in relation to 1 flat. The unexpired term was 75.25 years.