In what way does my ID and proof of funds have anything to do with my conveyancing in St Anns? Why is this being asked of me?

St Anns conveyancing solicitors as well as nationwide property practitioners accross the UK have a duty under money laundering regulations to verify the identity of any client in order to ensure that clients are who they say they are.

Conveyancing clients are required to supply two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and evidence of address (usually a Bank Statement less than 3 months old).

Proof of the origin of monies is also necessary under the money laundering regulations as lawyers are mandated to ensure that the funds you are using to acquire a property (whether it be the deposit for exchange or the total purchase amount if you are buying without a mortgage) has come from an acceptable source (such as employment savings) rather than the proceeds of criminal behaviour.

It has been 3 months following my purchase conveyancing in St Anns took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

I have been advised by a few selling agents in St Anns to locate a conveyancer on your site. Is there a financial inducement for Estate Agents to promote your services over another?

We refuse to offer any commission for directing people to this site. We found it would be just too difficult to pay a commission as members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.

My wife and I purchased a leasehold house in St Anns. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in St Anns who previously acted has long since retired. What should I do?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the new freeholder. There is no need to instruct a St Anns conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I own a garden flat in St Anns, conveyancing was carried out 10 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in St Anns with a long lease are worth £185,000. The ground rent is £65 charged once a year. The lease expires on 21st October 2084

You have 60 years remaining on your lease we estimate the premium for your lease extension to range between £20,000 and £23,000 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.

Can you set out the aspects of conveyancing undertaken by St Anns conveyancing companies?

Almost all St Anns conveyancing companies will supply various assistance to home and land owners, sellers, investors, landlords and tenants such as:

House sale conveyancing in St Anns and nationwide Residential purchase conveyancing in St Anns and nationwide Remortgaging including checking title details and obtaining the necessary searches to satisfy your mortgage company General property advice Buying and selling via auction Staircasing i.e. buying extra shares of a property that has been purchased through a shared ownership scheme