What does my ID and proof of funds have anything to do with my conveyancing in Brentford? Why is this being asked of me?
Brentford conveyancing solicitors as well as nationwide property lawyers throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to verify the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients are required to supply two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and proof of address (typically a Bank Statement less than 3 months old).
Evidence of the origin of funds is also necessary under the money laundering statutes as lawyers are mandated to investigate that the funds you are using to purchase a property (be it the exchange deposit or the full purchase price where you are buying without a mortgage) has originated from legitimate source (such as an inheritance) rather than the fruits of illegitimate activity.
We wanted to use a conveyancing solicitor in Brentford for our house purchase. Our broker informed us that our bank Accord Mortgages Ltd won't deal with them. Surely this is unfair competition?
A decade ago most lenders had a different appetite for risk. Almost all Brentford conveyancing firms would have been on most bank panels. The Financial Services Authority in 2010 carried out a thematic investigation into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of conveyancing. Many Brentford conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Brentford is one of the thousands of areas where the conveyancers showing on our search results are on the panel for Accord Mortgages Ltd.
Over the last few months I have been searching for a flat up to £305k and identified one close by in Brentford I like with amenity areas and transport links nearby, however it only has 52 years on the lease. I can't really find anything else in Brentford suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan that many years will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
Hoping to buy a property located in Brentford and I am already nervous. I couldn't find anything specific about Brentford. Conveyancing will be needed in due course but do you know about the Brentford area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Brentford. In the meantime here are some basic statistics that we found
Why is New Build conveyancing in Brentford more expensive?
Conveyancing in Brentford for recently converted or new build premises often involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as supplemental queries and contractual concerns.