I am about to exchange buying a property in Orpington but as a consequence of wreckage from the recent storms I have managed to agree recompense from the seller of three thousand pounds by way of a adjustment in the price. I had intended this to be addressed as part of a side agreement but UBS will not permit this. Should they have been informed?
Any conveyancer that is on the UBS approved list is required to advise UBS of any amendments to the sale price. If you were to refuse your property lawyer to report the price change to UBS then they would have to discontinue acting for you. In addition, UBS and you would have to appoint a new conveyancer for your conveyancing in Orpington.
What does my ID and proof of funds have anything to do with my conveyancing in Orpington? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Orpington conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility bill evidencing your correct address.
In accordance with Money Laundering Regulations, conveyancers are required to check not simply the identity of conveyancing clients but also the origin of monies that they receive in respect of any matter. An unwillingness to disclose this may lead to your solicitor terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to make a disclosure to the appropriate authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
four months have elapsed since my purchase conveyancing in Orpington took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a leasehold apartment up to £305k and identified one close by in Orpington I like with amenity areas and station in the vicinity, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Orpington in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan the remaining unexpired lease term may be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
What are your top tips when it comes to choosing a Orpington conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Orpington conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you talk with several firms including non Orpington conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be useful:
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How familiar is the practice with lease extension legislation? Can they put you in touch with clients in Orpington who can give a testimonial?
My wife and I have hit a brick wall in trying to purchase the freehold in Orpington. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to arrive at the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Orpington flat is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case related to 1 flat. The unexpired term was 50.57 years.
Looking for a conveyancing solicitor in Orpington. I thought I had one sorted but they are not on the panel for HSBC. It seems that nowadays most mortgage companies only allow solicitors on their panel. Very annoying limiting the choice for the paying public. Can you refer me to a good Orpington property lawyer that would assist us as well as represent HSBC?
LenderPanel.com is restricted to being a directory service for solicitors who wish to be listed as being on the approved conveyancing panel for HSBC in certain locations for instance Orpington . We dont recommend any particular lawyer.