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

In order to comply with Money Laundering Regulations any Hammersmith conveyancing firm will require proof of identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account showing your correct address.

Under Money Laundering Regulations, conveyancing solicitors are duty bound to validate not just the identity of conveyancing clients but also the source of monies that they receive in respect of any matter. Refusal to disclose this may lead to your lawyer terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.

Your property lawyers will have an obligation to notify the relevant authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.

I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Hammersmith. My lender is Chelsea Building Society

Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 25/4/2024, the requirements read as follows :

Should my solicitor be raising questions regarding flooding as part of the conveyancing in Hammersmith.

Flooding is a growing risk for solicitors dealing with homes in Hammersmith. There are those who acquire a property in Hammersmith, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.

Conveyancers are not qualified to offer advice on flood risk, however there are a number of searches that may be undertaken by the buyer or by their solicitors which will figure out the risks in Hammersmith. The conventional set of information sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the vendor to determine whether the property has suffered from flooding. In the event that flooding has previously occurred and is not notified by the seller, then a buyer may bring a compensation claim as a result of such an inaccurate reply. A purchaser’s conveyancers will also order an environmental report. This will reveal whether there is any known flood risk. If so, more detailed investigations will need to be carried out.

Me and my brother have a renovated Georgian property in Hammersmith. Conveyancing practitioner represented me and Platform Home Loans Ltd. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?

You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hammersmith and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with the conveyancing lawyer who completed the work.

How does conveyancing in Hammersmith differ for newly converted properties?

Most buyers of new build residence in Hammersmith approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is constructed. This is because house builders in Hammersmith tend to purchase the land, 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 Hammersmith or who has acted in the same development.