What does my ID and proof of funds have anything to do with my conveyancing in Oval? Why is this being asked of me?
Oval conveyancing solicitors as well as nationwide property practitioners accross the UK have an obligation under money laundering regulations to check the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified identification; proof of ID (usually a Passport or Driving Licence) and evidence of address (typically a Bank Statement no older than three months).
Evidence of source of monies is also required in compliance with the money laundering statutes as solicitors are required to check that the funds you are utilising to purchase a property (whether it be the deposit for exchange or the full purchase monies if you are buying without a mortgage) has come from an acceptable source (such as employment savings) as opposed to the fruits of criminal activity.
We're in Oval, First time buyers purchasing with a mortgage (lender is Virgin Money , and our solicitor is on the Virgin Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Are there restrictive covenants that are commonly identified during conveyancing in Oval?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Oval. 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…’
I am looking for a conveyancing practitioner in Oval for my sale. Can I check a solicitor's complaints history with the legal regulator?
You can search for documented Solicitor Regulator Association (SRA) decisions arising from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find records about the period before 1 January 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The regulator could recorded call for training reasons.
Can you offer any advice when it comes to appointing a Oval conveyancing practice to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Oval conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you speak with several firms including non Oval conveyancing practices prior to 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 experienced is the firm with lease extension legislation?
I own a garden flat in Oval. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
Where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to decide the sum to be paid.
An example of a Lease Extension case for a Oval premises is Ground Floor Flat 39 Bronsart Road in May 2010. Following a vesting order by West London County Court the Leasehold Valuation Tribunal concluded that the price to be paid for the extended lease of the premises was Thirteen Thousand Two hundred pounds (£13,200) in accordance with the valuation. The extended lease was granted for a term of 90 years from the expiry date of the Lease and at a peppercorn ground rent from the date of the vesting order. This case affected 1 flat. The unexpired term as at the valuation date was 74.77 years.
The property lawyers handling our conveyancing in Oval has forwarded documents to review that show the land is unregistered with epitome documents. Is it not the case that all houses in Oval are registered?
Most property in Oval is registered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Many Oval conveyancing lawyers should be able to handle such matters but where uncertainty exists the usual guidance nowadays is for the vendor’s solicitor to deal with the registration formalities first and then deal with the transfer to the buyer - this will have a knock on effect to cause a drawn-out conveyancing.