In what way does my ID and proof of funds have anything to do with my conveyancing in Westerham? Why is this being asked of me?
Westerham conveyancing solicitors as well as nationwide property practitioners throughout the UK have a duty 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 produce two forms of certified identification; proof of ID (usually a Passport or Driving Licence) and proof of address (typically a Bank Statement less than 3 months old).
Proof of source of monies is also required under the money laundering laws as conveyancers are duty bound to check that the funds you are utilising to purchase a property (be it the exchange deposit or the total purchase amount if you are buying without a mortgage) has originated from legitimate source (such as an inheritance) as opposed to the product of illegitimate activity.
Should commercial conveyancing searches disclose impending roadworks that may affect a commercial site in Westerham?
Many commercial conveyancing solicitors in Westerham will execute a SiteSolutions Highways report as it reduces the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Westerham. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Westerham.
For every commercial conveyancing transaction in Westerham it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may result in delays to Westerham commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Westerham.
I am purchasing a new build house in Westerham with a loan from Alliance & Leicester . The sellers would not move on the price so I negotiated 6k of extras instead. The estate agent told me not reveal to my conveyancer about this side-deal as it could 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.
I am looking for a flat up to £245,000 and found one close by in Westerham I like with open areas and station in the vicinity, the downside is that it's only got 49 years on the lease. There is not much else in Westerham in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
Is it possible to transfer to a new firm as I need to retain one who is on the Virgin Money conveyancing list. I was using a local conveyancing solicitor in Westerham round the corner but she is not accepted by Virgin Money
It would be our pleasure to assist you select a conveyancing solicitor in Westerham on the Virgin Money panel. Please note that the conveyancers that we list do not pay us fee if you instruct them and are under regulation of the SRA who oversee all conveyancing solicitors in Westerham. In making use of search facility on this page, you can compare costs for conveyancing solicitors in Westerham and beyond.
I have just appointed agents to market my garden apartment in Westerham. Conveyancing has not commenced, but I have recently had a yearly maintenance charge demand – what should I do?
It best that you clear the maintenance contribution as normal given that all rents and service charges should be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment 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. This will smooth the conveyancing process.
I acquired a 1st floor flat in Westerham, conveyancing formalities finalised in 2010. How much will my lease extension cost? Similar properties in Westerham with a long lease are worth £170,000. The average or mid-range amount of ground rent is £50 per annum. The lease ceases on 21st October 2099
You have 79 years unexpired the likely cost is going to span between £7,600 and £8,800 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.