What does my ID and proof of funds have anything to do with my conveyancing in Victoria Docks? Is this really necessary?
Victoria Docks conveyancing solicitors as well as nationwide property practitioners accross the UK have a duty under money laundering regulations to check the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to disclose two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and evidence of address (typically a Utility Bill less than 3 months old).
Confirmation of source of funds is also necessary under the money laundering regulations as solicitors are required to check that the money you are using to purchase a property (be it the exchange deposit or the full purchase amount if you are buying mortgage free) has come from a reputable source (such as employment savings) rather than the fruits of criminal behaviour.
The Victoria Docks conveyancing solicitors that I appointed last week on my purchase in Victoria Docks have suddenly closed. I only went with them because I needed a lawyer on the Co-operative conveyancing panel and my preferred Victoria Docks lawyer was not. I paid them money in advance. What are my options?
If you have an estate agent involved then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Co-operative conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
It has been four months following my purchase conveyancing in Victoria Docks concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey completed on a property in Victoria Docks before appointing lawyers. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some banks will not grant a mortgage on this type of premises.
It varies from the lender to lender. Lloyds has different requirements for example to Halifax. Should you wish to telephone us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Victoria Docks. Conveyancing will be smoother if you use a solicitor in Victoria Docks especially if they are accustomed to such properties in Victoria Docks.
I need to instruct a conveyancing solicitor for sale conveyancing in Victoria Docks. I've discover a site which appears to be the ideal answer If there is a chance to get all this stuff completed via phone that would be preferable. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Estate agents have just been given the go-ahead to market my basement apartment in Victoria Docks. Conveyancing lawyers have not yet been instructed, however I have recently had a half-yearly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as normal as all ground rent and service charges should be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am the proprietor of a first floor flat in Victoria Docks. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
Most certainly. We can put you in touch with a Victoria Docks conveyancing firm who can help.
An example of a Lease Extension case for a Victoria Docks property is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case was in relation to 1 flat. The unexpired lease term was 69.77 years.