What does my ID and proof of funds have anything to do with my conveyancing in Shepherd's Bush? Is this really necessary?
Shepherd's Bush conveyancing solicitors as well as nationwide property practitioners throughout 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 are required to produce two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and proof of address (usually a Bank Statement no more than three months).
Proof of the origin of funds is also necessary under the money laundering regulations as conveyancers are duty bound to ensure that the funds you are using to purchase a property (whether it be the deposit for exchange or the total purchase monies where you are a cash purchaser) has come from an acceptable source (such as an inheritance) as opposed to the proceeds of criminal activity.
I'm buying my first flat in Shepherd's Bush benefiting from help to buy. The developers refused to budge the amount so I negotiated £7000 of extras instead. The property agent told me not disclose to my conveyancer about the side-deal as it will affect my loan with the lender. Do I keep my lawyer in the dark?.
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 flat up to £195,000 and found one near me in Shepherd's Bush I like with amenity areas and railway links nearby, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Shepherd's Bush in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage that many years will be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
I am looking into buying my first house which is in Shepherd's Bush and I am already nervous. I couldn't find anything specific about Shepherd's Bush. Conveyancing will be needed in due course but do you know about the Shepherd's Bush area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Shepherd's Bush. In the meantime here are some basic statistics that we found
We're new to the buying process - had an offer accepted, but the property agent advised that the owners will only proceed if we appoint their recommended conveyancers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a high street solicitor accustomed to conveyancing in Shepherd's Bush
We suspect that the owner is not behind this requirement. If they require ‘a quick sale', alienating a genuine purchaser is counter productive. Contact the vendors directly and make the point that (a)you are motivated purchasers (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you wish to move quickly (e)however you are going to appoint your preferred Shepherd's Bush conveyancing firm - as opposed tothose that will give the negotiator at the agency a introducer fee or achieve conveyancing figures demanded by head office.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £175,000 garden flat in Shepherd's Bush next week. The management company has quoted £336 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Shepherd's Bush?
Shepherd's Bush conveyancing on leasehold apartments more often than not requires the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to answer such questions most will be content to assist. They are entitled to invoice a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee levied by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that you have little choice but to pay whatever is requested of you should you wish to complete the sale of your home.
Following months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Shepherd's Bush. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a Shepherd's Bush residence is 82 Minford Gardens in February 2009. The Tribunal determined that the enfranchisement price was £37,341 This case related to 2 flats. The number of years remaining on the existing lease(s) was 72.92 years.