It has come to my attention via my mortgage adviser that my West Ham lawyer is not on the lender Conveyancing panel. What can I do to be sure whether this is correct?
You need to call your West Ham lawyer directly. You lawyer should inform you what has happened. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your mortgage company.
What does my ID and proof of funds have anything to do with my conveyancing in West Ham? What am I being asked for?
To satisfy the Money Laundering Regulations any West Ham conveyancing firm will require proof of identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility bill evidencing your correct address.
Under Money Laundering Regulations, property lawyers are obliged by law to validate not just the ID of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this will lead to your lawyer ending 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 notify the appropriate authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
Should our solicitor be raising enquiries about flooding during the conveyancing in West Ham.
The risk of flooding is if increasing concern for lawyers dealing with homes in West Ham. There are those who purchase a property in West Ham, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Lawyers are not best placed to give advice on flood risk, however there are a various checks that can be undertaken by the buyer or by their lawyers which can give them a better understanding of the risks in West Ham. The standard property information forms supplied to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the vendor to discover if the premises has historically flooded. If the property has been flooded in past which is not notified by the seller, then a buyer may bring a legal claim for losses stemming from an inaccurate response. The purchaser’s conveyancers may also carry out an environmental report. This should disclose if there is a recorded flood risk. If so, more detailed inquiries should be made.
I have been on the look out for a flat up to £305k and found one close by in West Ham I like with open areas and transport links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in West Ham in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
I am looking into buying my first house which is in West Ham and I am already nervous. I couldn't find anything specific about West Ham. Conveyancing will be needed in due course but do you know about the West Ham area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at West Ham. In the meantime here are some basic statistics that we found
I need to find a conveyancing solicitor for my conveyancing in West Ham. I've land on a web site which seems to have the ideal offering If it is possible to get all this stuff completed via phone that would be preferable. Should I 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?