What does my ID and proof of funds have anything to do with my conveyancing in Tokyngton? Why is this being asked of me?
You are right in these requests have nothing to do with conveyancing in Tokyngton. However these days you can not proceed with any conveyancing deal without first supplying evidence of your identity. This usually takes the form of a either your passport or driving licence as well as a utility bill. Please note that if you are supplying your driving licence as evidence of identification it needs to be both the paper element and photo card part, one is not satisfactory in the absence of the other.
Verification of your origin of money is required in accordance with the Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancer will need to retain this information on record. Your Tokyngton conveyancing practitioner will need to see evidence of proof of funds prior to accepting any money from you into their client account and they will also ask further questions concerning the origin of funds.
My wife and I are purchasing a property in Tokyngton. It might be a silly question but how we can trust a solicitor? On the day of competition we will need to put money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
The formalities of my remortgage has taken place for my property in Tokyngton. Conveyancing was a necessary evil but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
Having read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Tokyngton solicitor - who is on the Lloyds conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Tokyngton surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I have been told that property searches are the primary reason for hinderance in Tokyngton conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any holding up conveyancing in Tokyngton.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Tokyngton. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Tokyngton
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I opted to have a survey completed on a house in Tokyngton before instructing conveyancers. I have been informed that there is a flying freehold overhang to the property. Our surveyor advised that some banks tend refuse to grant a mortgage on a flying freehold property.
It varies from the lender to lender. Santander has different requirements from Birmingham Midshires. If you call us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Tokyngton. Conveyancing may be slightly more expensive based on your lender's requirements.
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Tokyngton conveyancing firm to act on my behalf?
if there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to determine the premium.
An example of a Lease Extension matter before the tribunal for a Tokyngton premises is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case affected 1 flat. The unexpired term as at the valuation date was 74 years.
What makes a Tokyngton lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in Tokyngton. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:
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Repairing obligations to or maintain elements of the building Clauses dealing with recovering service charges for expenditure on the building or common parts.
You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Coventry Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.