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Recently asked questions about conveyancing in Addiscombe

My wife and I are about to exchange buying a property in Addiscombe but as a result of wreckage from some water damage at the property I have was able negotiate reparation from the seller of £3k in the form of a deduction in the price. This was going to be addressed as part of amending the contract however UBS are not allowing this. Should they have been approached?

Your property lawyer being on a UBS conveyancing panel is required to advise UBS of any variations to the sale price. If you were to refuse your conveyancing practitioner to disclose the reduction to UBS then they would have to discontinue acting for you. In addition, UBS and you would have to appoint a new property lawyer for your conveyancing in Addiscombe.

What does my ID and proof of funds have anything to do with my conveyancing in Addiscombe? Is this really warranted?

Addiscombe conveyancing solicitors and indeed property lawyers accross the UK have an obligation under money laundering regulations to verify the ID 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 identity (typically a Passport or Driving Licence) and evidence of address (usually a Bank Statement less than 3 months old).

Evidence of the origin of funds is also necessary in compliance with the money laundering regulations as conveyancers are required to ensure that the funds you are using to purchase a property (whether it be the deposit for exchange or the total purchase monies if you are buying without a mortgage) has originated from a reputable source (such as an inheritance) as opposed to the fruits of illegitimate activity.

How does conveyancing in Addiscombe differ for newly converted properties?

Most buyers of new build or newly converted property in Addiscombe approach us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Addiscombe usually acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Addiscombe or who has acted in the same development.

In my capacity as executor for the will of my father I am disposing of a house in Cardiff but live in Addiscombe. My conveyancer (based 260 miles from merequires that I sign a statutory declaration ahead of the transaction finalising. Can you recommend a conveyancing solicitor in Addiscombe who can attest and place their company stamp on the document?

strictly speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will be fine regardless of whether they are Addiscombe based

I am the leaseholder of a first floor flat in Addiscombe. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount due for a lease extension?

Most definitely. We are happy to put you in touch with a Addiscombe conveyancing firm who can help.

An example of a Freehold Enfranchisement case for a Addiscombe premises is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case was in relation to 4 flats. The remaining number of years on the lease was 98 years.

When it comes to leasehold conveyancing in Addiscombe what are the most frequent lease defects?

Leasehold conveyancing in Addiscombe is not unique. Most leases are unique and drafting errors can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

    Insurance obligations A provision to repair to or maintain elements of the building

You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Skipton Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

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