In what way does my ID and proof of funds have anything to do with my conveyancing in Edenbridge? What am I being asked for?
To satisfy the Money Laundering Regulations any Edenbridge conveyancing firm will require evidence of your 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.
In accordance with Money Laundering Regulations, conveyancing solicitors are required to ascertain not simply the ID of conveyancing clients but also the source of the money that they receive in respect of any matter. An unwillingness to disclose this will result in your lawyer cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to make a disclosure to the relevant authorities should they consider that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
My lawyer in Edenbridge has never been on on the TSB Solicitor Panel. Can I still retain my family solicitor even though they are excluded from the TSB list of approved lawyers?
The limited options open to you here include:
- Carry on with your preferred Edenbridge solicitors but TSB will need to use a lawyer on their list of acceptable firms. This will inevitably rack up the total legal fees as well as result in delays.
- Get an alternative solicitor to to deal with the conveyancing, remembering to check they are TSB approved.
- Persuade your TSB solicitor to try to join the TSB panel
five months have elapsed since my purchase conveyancing in Edenbridge concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. 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 property 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'm buying my first flat in Edenbridge with a mortgage from Barclays Direct. The builders would not reduce the amount so I negotiated 6k of extras instead. The property agent advised me not disclose to my lawyer about the extras as it may put at risk my mortgage 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.
Expecting to sign contracts shortly on a garden flat in Edenbridge. Conveyancing lawyers inform me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Edenbridge should include some of the following:
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Will you be prohibited or prevented from having pets in the property? It needs to be made clear to you if the lease allows you to add or improve anything in the property- you must be made aware as to whether any restrictions applies to all alterations or limited to structural alteration, and whether permission is mandated necessary Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? Whether your lease has a provision for a sinking fund? You would want to receive a copy of the lease
I purchased a split level flat in Edenbridge, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Edenbridge with over 90 years remaining are worth £197,000. The ground rent is £55 per annum. The lease comes to an end on 21st October 2081
You have 55 years unexpired the likely cost is going to be between £31,400 and £36,200 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.
At what stage do I cover the costs of stamp duty payable for my conveyancing in Edenbridge?
Your solicitor will fill out a stamp duty return for you as part of your Edenbridge purchase transaction for signature. After completion your lawyer will submit your Land Transaction application to the Inland Revenue and - assuming they have the funds - settle any land tax liability for you.