In what way does my ID and proof of funds have anything to do with my conveyancing in Rayners Lane? What am I being asked for?
Rayners Lane conveyancing solicitors as well as nationwide property lawyers throughout the UK have a duty under money laundering regulations to verify the identity of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to produce two forms of certified identification; proof of ID (usually a Passport or Driving Licence) and evidence of address (usually a Bank Statement no more than three months).
Confirmation of source of monies is also required in accordance with the money laundering regulations as conveyancers are obliged to ensure that the money you are utilising to buy a property (be it the exchange deposit or the total purchase price if you are buying mortgage free) has come from an acceptable source (such as employment savings) as opposed to the proceeds of illegitimate activity.
We're in Rayners Lane, First timers buying with a mortgage (lender is Nationwide , and our lawyer is on the Nationwide conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nationwide 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.
My wife and I purchasing a end of terrace house in Rayners Lane. The intention is to carry out an extension to the side at the property.Will legal work on the property include checks to ascertain if these alterations were previously refused?
Your conveyancer will check the registered title as conveyancing in Rayners Lane will sometimes identify restrictions in the title deeds which restrict certain alterations or require the consent of a 3rd party. Many extensions call for local authority planning consent and approval under the building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
We had chosen solicitors based in Rayners Lane on the Aldermore solicitor approved list. They have just billed me a separate charge for the legal aspects of the Aldermore mortgage. Is this a supplemental conveyancing fee set by Aldermore?
As unfair as it may seem, as long as it’s in their Terms and Conditions or Quote then yes your property lawyer can charge a fee for this. This fee is not set by Aldermore but by your Rayners Lane conveyancing practitioner. Numerous firms on the Aldermore panel will charge ’dealing with mortgage’ fee but many firms incorporate it on their overall fee.
We are getting the release of further monies on our home loan from UBS as we intend to conduct improvements to our property in Rayners Lane. Do we need to appoint a local Rayners Lane solicitor on the UBS conveyancing panel to deal with the paperwork?
UBS don't usually instruct firms on their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS list.
I have been on the look out for a leasehold apartment up to £195,000 and identified one near me in Rayners Lane I like with amenity areas and transport links nearby, however it only has 52 years unexpired on the lease. There is not much else in Rayners Lane for this price, so just wondered if I would be making a grave error buying a short lease?
If you need a home loan the shortness of the lease will be problematic. Discount the offer by the expected 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 current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
Due to sign contracts shortly on a studio apartment in Rayners Lane. Conveyancing solicitors have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Rayners Lane should include some of the following:
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Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? You should be told what counts as a Nuisance as far as the lease is concerned You should be sent a copy of the lease if lease caters for for a reserve fund for major works?
I own a basement flat in Rayners Lane. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?
if there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to decide the price.
An example of a Lease Extension matter before the tribunal for a Rayners Lane premises is GFF 1 Holyrood Avenue in May 2014. The Tenant wished to acquire a new (extended) lease and applied to the Willesden County Court who granted a vesting order on 20* March2013. The Tribunal decied that the premium to be paid was £9,062 This case affected 1 flat. The number of years remaining on the existing lease(s) was 79 years.
I am buying a ground floor flat in Rayners Lane. Conveyancing lawyer is awaiting, from the owner, building insurance documents. This afternoon I was informed that the owner must send the insurance paperwork for the flat above as well. Why does my lawyer need to see the insurance for the flat above? Is it really necessary? We have been stalled for the last month…
It is not impossible in leasehold conveyancing in Rayners Lane to discover Conveyancing in Rayners Lane in a minority of cases reveals that the lease requires the leasehold owners to insure their individual flats as opposed to the landlord insuring the whole premises - which is clearly better. Do double check with your solicitor but it would seem that your property lawyer is looking to establish that the entire building is insured. Insuring a ground floor flat is no help when it comes to rebuilding after a fire if the other flat cannot be reinstated as a result of lack of insurance cover.