What does my ID and proof of funds have anything to do with my conveyancing in Chafford Hundred? What am I being asked for?

Chafford Hundred conveyancing solicitors as well as nationwide property lawyers throughout the UK have an obligation under money laundering regulations to check the identity of any client with a view to satisfy themselves that clients are who they say they are.

Conveyancing clients will need to supply two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and proof of address (typically a Utility Bill less than 3 months old).

Proof of source of monies is also required under the money laundering regulations as lawyers are required to check that the money you are using to acquire a property (whether it be the deposit for exchange or the total purchase monies if you are buying mortgage free) has come from an acceptable source (such as employment savings) rather than the fruits of illegitimate behaviour.

I am helping my sister sell her house in Chafford Hundred. Does the conveyancer arrange an energy assessment or should I organise this?

Following the abolition of Home Information Packs, EPC’s was maintained a compulsory component of selling a property. An energy performance certificate should be to hand before the property is placed on the market. This is not a task that solicitors normally organise. If you are using a Chafford Hundred conveyancing practitioner they might help arrange energy performance certificates given their relationships with reputable local accredited person

My solicitor has informed me that chancel insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Chafford Hundred?

The appropriate level of chancel indemnity insurance depends on your lender. It would differ for example between Halifax and Norwich and Peterborough Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.

I am due to exchange contracts on my house. I had a double glazing fitted in October 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Principality are being pedantic. The Chafford Hundred solicitor who is on the Principality conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Principality are requiring a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?

It is probably the case that Principality have referred the matter to their valuer. The reason why Principality may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.

I'm purchasing my first flat in Chafford Hundred with a loan from Santander. The builders would not move on the price so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not disclose to my solicitor about the extras as it would adversely 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.

I am looking for a flat up to £245,000 and found one close by in Chafford Hundred I like with amenity areas and station in the vicinity, however it's only got 51 years on the lease. There is not much else in Chafford Hundred in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?

Should you require a home loan the remaining unexpired lease term will be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.

I am just shy of a 10% deposit on my flat purchase in Chafford Hundred , but I am anxious go ahead. What can I do?

You can agree a lower deposit. Many property owners will agree to a lesser deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.

You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second