What does my ID and proof of funds have anything to do with my conveyancing in Riddlesdown? Is this really warranted?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the ID of the person or body they are dealing with before they can accept their conveyancing business. The Terms of Engagement that you are required to sign will no doubt confirm this. Your lender will also require certain documents to be checked. Where you are unwilling to supply identification documents, your lawyer will not be able to take you on as a client.
I own a 4 bedroom Edwardian property in Riddlesdown. Conveyancing solicitor acted for me and Bank of Scotland. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should read 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 Riddlesdown and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with your conveyancing solicitor who carried out the work.
I'm purchasing a new build house in Riddlesdown with the aid of help to buy. The developers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not reveal to my solicitor about this extras as it may jeopardize my mortgage with the lender. Is this normal?.
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'm refinancing my existing home to a BTL mortgage with Accord Mortgages Ltd and I will use the ballance of the raised equity as a down payment on further property. The location we are looking at is Riddlesdown. Will your lawyers be able to act for the two lenders and link together the conveyances?
Do use our comparison tool on this site to ensure that the conveyancers are on the appropriate lender panels. Assuming that they are the lawyer will be able to tie up the two conveyancing matters but you should talk with you lawyer and make clear your expectations and requirements.
Can you provide any top tips for leasehold conveyancing in Riddlesdown with the aim of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Riddlesdown can be reduced where you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the purchasers’ solicitors. Many landlords or Management Companies in Riddlesdown charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Riddlesdown. You may think that you are aware of the number of years remaining on your lease but you should double-check via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Riddlesdown leases often stipulate that internal structural alterations or laying down wooden flooring require a licence from the Landlord consenting to such changes. Should you dont have the approvals in place you should not contact the landlord without checking with your conveyancer first.
Despite our best efforts, we have been unsuccessful in seeking a lease extension in Riddlesdown. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We can put you in touch with a Riddlesdown conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Riddlesdown property is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case related to 6 flats. The number of years remaining on the existing lease(s) was 78.32 years.