What does my ID and proof of funds have anything to do with my conveyancing in Braintree? What am I being asked for?
To satisfy the Money Laundering Regulations any Braintree conveyancing firm will require evidence of your identity in all conveyancing matters. This is usually satisfied by provision of a passport and an original bank statement or utility bill showing your correct address.
Under Money Laundering Regulations, conveyancing solicitors are required to validate not simply the ID of conveyancing clients but also the source of monies that they receive in respect of any matter. Refusal to disclose this may lead to your conveyancer terminating their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to notify the appropriate authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
What is the best way to discover of the solicitor carrying out my conveyancing in Braintree is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Britannia thus spending £192.00 in further legal charges.
You should make the most of the find a lender approved solicitor tool on this site. Pick the lender and type ‘Braintree’ or your preferred area and you will see a number of lawyer based in Braintree or near you.
Will commercial conveyancing searches reveal impending roadworks that may impact a commercial premises in Braintree?
Its becoming the norm that commercial conveyancing solicitors in Braintree will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Braintree. The report 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 Braintree.
For every commercial conveyancing transaction in Braintree it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can cause delays to Braintree commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Braintree.
The deeds to our property can not be found. The lawyers who dealt with the conveyancing in Braintree 5 years ago no longer exist. What do I do?
Assuming you have a registered title the information relating to your ownership will be evidenced by HMLR under a Title Number. It is easy to carry out a search at the Land Registry, locate your house and get up to date copies of the property title for less than a fiver. If the title is Leasehold then the Land Registry will also normally retain a file duplicate of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Braintree. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Braintree
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I've recently bought a leasehold house in Braintree. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a split level flat in Braintree, conveyancing having been completed November 1996. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Braintree with an extended lease are worth £201,000. The ground rent is £45 levied per year. The lease ceases on 21st October 2090
With 65 years remaining on your lease we estimate the premium for your lease extension to range between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.