In what way does my ID and proof of funds have anything to do with my conveyancing in Waterloo? Why is this being asked of me?
Waterloo conveyancing solicitors and indeed property lawyers accross the UK have a duty under money laundering regulations to check the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to supply two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and proof of address (typically a Bank Statement less than 3 months old).
Proof of source of monies is also required in accordance with the money laundering statutes as solicitors have a duty to check that the money you are using to purchase a property (be it the exchange deposit or the total purchase price if you are buying mortgage free) has originated from an acceptable source (such as employment savings) rather than the product of criminal behaviour.
I am selling my apartment in Waterloo. Will the lawyer need to be on the HSBC conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the HSBC conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently currently.
Should my conveyancer be raising questions regarding flooding during the conveyancing in Waterloo.
Flooding is a growing risk for lawyers dealing with homes in Waterloo. There are those who acquire a property in Waterloo, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, but there are a various searches that can be undertaken by the purchaser or by their solicitors which can figure out the risks in Waterloo. The conventional set of property information forms supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the vendor to determine whether the premises has historically flooded. If the premises has been flooded in past and is not notified by the vendor, then a buyer may issue a legal claim for losses as a result of such an incorrect reply. The buyer’s conveyancers should also carry out an environmental report. This should indicate if there is a recorded flood risk. If so, further investigations should be made.
About to purchase a new build flat in Waterloo. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Waterloo
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
Due to the encouragement of my in-laws I had a survey completed on a property in Waterloo in advance of appointing conveyancers. I have been informed that there is a flying freehold element to the property. The surveyor has said that some mortgage companies tend refuse to issue a mortgage on such a house.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Halifax. Should you wish to telephone us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Waterloo. Conveyancing may be slightly more expensive based on your lender's requirements.
In what way does the Landlord & Tenant Act 1954 impact my commercial property in Waterloo and how can you help?
The particular law that you refer to gives security of tenure to business lessees, granting the a statutory right to make a request to court for a new lease and continue in occupation when the lease reaches an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and handle your commercial conveyancing in Waterloo