In what way does my ID and proof of funds have anything to do with my conveyancing in Denham? What am I being asked for?
Denham conveyancing solicitors and indeed property lawyers accross the UK have a duty under money laundering regulations to verify the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to produce two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and proof of address (typically a Bank Statement less than 3 months old).
Proof of source of funds is also required in compliance with the money laundering regulations as solicitors are duty bound to check that the money you are utilising to purchase a property (whether it be the deposit for exchange or the total purchase monies if you are a cash purchaser) has come from an acceptable source (such as an inheritance) and is not the proceeds of criminal activity.
My Solicitor in Denham has never been on on the HSBC Bank Approved Panel. Is it possible for me to continue with my prefered solicitor even though they are excluded from the HSBC Bank panel?
The limited options open to you here include:
- Carry on with your existing Denham solicitors but HSBC Bank will need to retain a conveyancer on their list of acceptable firms. This will result in additional overall conveyancing charges as well as result in frustration.
- Choose an alternative practitioner to to deal with the purchase, not forgetting to check they are Convince your conveyancer to do everything within their powers to join the HSBC Bank conveyancing panel
My wife and I are purchasing a flat in Denham. It might be a silly question but how we can trust a lawyer? On completion day we will need to deposit money into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
This question may be naive but I am wet behind the ears as a first time purchaser of a ground floor flat in Denham. Do I receive the keys to the property on completion from my conveyancer? If so, I will find a High Street conveyancing solicitor in Denham?
On the day of completion you do not need to attend the conveyancers office in Denham. Your solicitors will electronically transfer the completion advance to the seller's solicitors, and once they have received this, you will be called to collect the keys from the selling Agents and move into your new home. Usually this occurs early afternoon.
I am expecting a OIP from Nottingham this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nottingham recommend any Denham solicitors on the Nottingham conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Denham solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
I'm purchasing my first flat in Denham with a mortgage from Accord Mortgages Ltd. The developers refused to budge the price so I negotiated five thousand pounds worth of extras instead. The sale representative suggested that I not to tell my conveyancer about this deal as it will affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
My wife and I purchased a leasehold house in Denham. Conveyancing and Lloyds TSB Bank mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Denham who acted for me is not around. Any advice?
First make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Denham conveyancing firm to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the proprietor of a basement flat in Denham. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
Absolutely. We are happy to put you in touch with a Denham conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Denham premises is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case affected 3 flats. The unexpired residue of the current lease was 71 years.