The Sheen Park conveyancing firm handling our Sheen Park conveyancing has identified an inconsistency between the assumptions in the valuation report and what is in the title deeds. My solicitor has advised that he is obliged to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s approach right?

Your property lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.

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

In order to comply with Money Laundering Regulations any Sheen Park conveyancing firm will require proof of identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility account showing where you reside.

In accordance with Money Laundering Regulations, conveyancers are required to investigate not only the ID of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this will lead to your solicitor cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.

Your conveyancers are duty bound to inform the relevant authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.

Over the last few months I have been searching for a flat up to £235,500 and identified one close by in Sheen Park I like with open areas and transport links nearby, however it only has 49 remaining years left on the lease. I can't really find anything else in Sheen Park for this price, so just wondered if I would be making a mistake acquiring a short lease?

Should you need a home loan that many years may be problematic. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing 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. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.

I'm refinancing my current home to a BTL loan with Bank of Ireland and I will use the ballance of the raised equity towards another property. The location we are interested in is Sheen Park. Will your conveyancers be able to act for the two mortgage companies and tie in the transactions?

Make use of our comparison tool on this page to ensure that the conveyancers are approved by both mortgage companies. Having checked that they are your conveyancer will be able to simultaneously deal with the two transactions but you should talk with you conveyancer and make clear your desired outcome and needs.

I am looking at a couple of maisonettes in Sheen Park which have about 50 years left on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Sheen Park. The lease is a right to use the premises for a period of time. As a lease shortens the marketability of the lease deteriorates and it becomes more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this field.

We have reached the end of our tether in negotiating a lease extension in Sheen Park. Can this matter be resolved via the Leasehold Valuation Tribunal?

Absolutely. We can put you in touch with a Sheen Park conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a Sheen Park flat is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case affected 3 flats. The remaining number of years on the lease was 66.25 years.