In what way does my ID and proof of funds have anything to do with my conveyancing in Netherley? Is this really warranted?

Netherley conveyancing solicitors as well as nationwide property lawyers accross the UK have a duty under Anti-terror and anti-money-laundering rules to check the ID of any client with a view to satisfy themselves that clients are who they say they are.

Conveyancing clients are required to supply two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and proof of address (typically a Bank Statement no older than three months).

Confirmation of source of funds is also required under the money laundering statutes as lawyers are required to check that the money you are utilising to purchase a property (be it the exchange deposit or the full purchase price where you are a cash purchaser) has originated from an acceptable source (such as employment savings) as opposed to the fruits of illegitimate behaviour.

What is the difference between a licensed conveyancer and conveyancing solicitor in Netherley

There are many recorded licenced Conveyancers in Netherley and Solicitor partnerships in Netherley offering conveyancing We would stress that the two are supervised by regulatory bodies with both specialising in the legal work in transferring property. Both can handle other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.

My bid for a property was accepted at auction in Netherley. Conveyancing is needed. What is next?

Given that you have now exchanged you should instruct a conveyancing practitioner as a matter of priority as you will have a pending a fixed date to complete the transaction. Every auction property should have a bespoke legal set of papers. This will include evidence of title and search results. Where you are dealing with leasehold premises the conveyancing papers should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to leasehold premises. You must hand this to the lawyer working for you at the earliest opportunity. Do make sure that your finances are organised to complete the transaction on the set completion date.

Completion of my remortgage has taken place for my property in Netherley. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?

All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.

I have justfound out that Arc property Solicitors have closed. They conducted my conveyancing in Netherley for a purchase of a leasehold apartment 18 months ago. How can I establish that my home is in my name in the name of the previous owner?

The quickest method to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Netherley conveyancing specialists.

I'm buying my first flat in Netherley with a mortgage from Lloyds TSB Bank. The developers refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not disclose to my conveyancer about the extras as it could jeopardize my mortgage with the bank. Is this normal?.

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.

What are the frequently found deficiencies that you encounter in leases for Netherley properties?

Leasehold conveyancing in Netherley is not unique. Most leases are individual and drafting errors can result in certain clauses are wrong. The following missing provisions could result in a defective lease:

Clauses dealing with recovering service charges for expenditure on the building or common parts.

You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, The Mortgage Works, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to withdraw.

I inherited a split level flat in Netherley, conveyancing formalities finalised December 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Netherley with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease expires on 21st October 2094

With just 69 years remaining on your lease we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as costs.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.