What does my ID and proof of funds have anything to do with my conveyancing in Deptford? What am I being asked for?
Deptford conveyancing solicitors and indeed property practitioners throughout the UK have an obligation under money laundering regulations to check the identity of any client with a view to ensure that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified identification; proof of ID (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill less than 3 months old).
Evidence of the origin of monies is also necessary in accordance with the money laundering laws as conveyancers are obliged to check that the funds you are using to purchase a property (be it the exchange deposit or the total purchase price if you are a cash purchaser) has originated from an acceptable source (such as employment savings) and is not the product of illegitimate behaviour.
My Solicitor in Deptford is not on the Approved Panel. Can I still continue with my prefered solicitor notwithstanding that they are excluded from the approved list?
The limited options available to you here include:
- Carry on with your existing Deptford lawyers but will need to instruct a lawyer on their list of acceptable firms. This will result in additional total conveyancing fees and result in delays.
- Get an alternative solicitor to act in the conveyancing, not forgetting to check they are on the panel
What will a local search inform me regarding the house my wife and I purchasing in Deptford?
Deptford conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search company for example Onsearch The local search is essential in every Deptford conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your new home. The search should supply information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
I am looking for a ground for flat up to £245,000 and found one round the corner in Deptford I like with a park and transport links in the vicinity, however it's only got 49 years unexpired on the lease. There is not much else in Deptford for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a home loan the shortness of the lease may be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you may ask them to start the process of the extension 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 about this.
At what point do I pay stamp duty due for my conveyancing in Deptford?
The will complete a Land Transaction Return Form for you during your Deptford purchase transaction for you to sign. On completion your will submit the Land Transaction application to the Tax Authorities and - as long as they have the money - pay any Stamp Duty due for you.