In what way does my ID and proof of funds have anything to do with my conveyancing in Beddington? Is this really necessary?
Beddington conveyancing solicitors and indeed property practitioners throughout the UK have an obligation under money laundering regulations to check the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to disclose 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 the origin of funds is also required in compliance with the money laundering statutes as solicitors are obliged to ensure that the money you are using to acquire a property (be it the exchange deposit or the full purchase price if you are buying mortgage free) has come from a reputable source (such as employment savings) as opposed to the product of criminal activity.
We are buying a property and the lawyer has referenced Chancel Repair to which the property may be obligated to contribute to given it’s proximity to the area of such a church. He has recommended insurance. Is this really required for conveyancing in Beddington
Unless a previous purchase of the house took place post 12 October 2013 you could expect solicitors conducting conveyancing in Beddington to remain recommending a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly picked up during conveyancing in Beddington?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Beddington. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one close by in Beddington I like with open areas and railway links in the vicinity, the downside is that it's only got 49 years on the lease. There is not much else in Beddington suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require 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 premises for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
I am employed by a long established estate agency in Beddington where we see a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Beddington conveyancing firms. Please can you confirm whether the seller of a flat can start the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done 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.
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Beddington. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We are happy to put you in touch with a Beddington conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Beddington flat is Ground Floor Flat 14 Lodge Road in October 2013. the tribunal held that the price payable for the acquisition of the extended lease of the property should be £12,590 .00 This case affected 1 flat. The remaining number of years on the lease was 69.46 years.
There are a lot of properties in Beddington on private lanes. My husband and I are acquiring one such property. Are there any advantages to purchasing a property on a privately owned road?
Beddington conveyancing solicitors will be well versed in conveyancing houseson private. Your lawyer should investigate Land Registry data to find any rights or responsibilities. In many cases there is a residents association that owners make annual payments for the upkeep of the road. Where one exists, the road will likely be maintained and look nicer than publicly adopted.