In what way does my ID and proof of funds have anything to do with my conveyancing in Thurrock? Is this really necessary?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with prior to agreeing to accepting their conveyancing business. The Client Care letter that you are required to sign will no doubt confirm this. Your lender will also require certain documents to be checked. If you are unwilling to provide identification documents, your solicitor would not be able to accept instructions from you.
Are there restrictive covenants that are commonly identified during conveyancing in Thurrock?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Thurrock. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying my first flat in Thurrock with the aid of help to buy. The builders refused to budge the amount so I negotiated £7000 of extras instead. The sale representative suggested that I not to tell my solicitor about this side-deal as it could affect 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.
What does commercial conveyancing in Thurrock cover?
Commercial conveyancing in Thurrock covers a broad array of advice, provided by regulated solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I am a negotiator for a busy estate agent office in Thurrock where we have witnessed a number of leasehold sales jeopardised as a result of short leases. I have been given inconsistent advice from local Thurrock conveyancing firms. Could you shed some light as to whether the vendor of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Thurrock Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
It would be sensible to investigate if there are any onerous prohibitions in the lease. For instance plenty of leases prohibit pets being allowed in in a block in Thurrock. If you love the propertyin Thurrock but your cat is not allowed to live with you then you will be presented with a hard determination. Are there any major works in the near future that will increase the service fees? Best to be warned whether a new roof is being installed or some other significant cost is due in the near future to be shared amongst the leasehold owners and may well dramatically increase the the service charges or necessitate a specific invoice.