What does my ID and proof of funds have anything to do with my conveyancing in Selsdon? What am I being asked for?
In order to comply with Money Laundering Regulations any Selsdon conveyancing firm will require proof of identity in all conveyancing transactions. This is usually dealt with by provision of a passport and an original bank statement or utility account evidencing where you live.
Under Money Laundering Regulations, property lawyers are required to investigate not only the ID of conveyancing clients but also the origin of fund that they receive in respect of any matter. An unwillingness to disclose this may result in your solicitor terminating their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to inform the appropriate authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
I'm buying my first flat in Selsdon with a mortgage from TSB. The developers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not reveal to my solicitor about this deal as it will jeopardize my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one near me in Selsdon I like with amenity areas and railway links in the vicinity, the downside is that it only has 49 years on the lease. There is not much else in Selsdon suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan that many years will be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
I was recommended by two or three local selling agents in Selsdon to choose a solicitor using your seach tool. What’s the financial incentive for Estate Agents to promote your services over and above alternative conveyancing organisations?
We refuse to offer any commission for sending work in our direction. We thought it would be too underhand to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
All being well we will complete the disposal of our £225,000 flat in Selsdon in just under a week. The landlords agents has quoted £324 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Selsdon?
Selsdon conveyancing on leasehold maisonettes nine out of ten times involves fees being levied by landlords agents :
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Answering pre-contract questions
Where consent is required before sale in Selsdon
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Having spent years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Selsdon. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We are happy to put you in touch with a Selsdon conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Selsdon residence is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case affected 6 flats. The unexpired lease term was 78.32 years.
Me and my husband accepted an offer on a Selsdon property left to us some years ago in 2010. I have over a decades worth of conveyancing know-how and, although retired, see no reason not to undertake the legal work. The buyer's property lawyer has informed me that their building society will not allow us to do our own conveyancing mandating that the funds to be sent to a solicitor's bank account.
Lending requirements to property lawyers from all CML members state that If the vendor does not have legal representation the borrower's lawyers should check whether the lender needs to be notified so that a decision can be made if they are prepared to progress.