What does my ID and proof of funds have anything to do with my conveyancing in Plaistow? Is this really warranted?

Plaistow conveyancing solicitors and indeed property lawyers throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to check the identity of any client in order to ensure that clients are who they say they are.

Conveyancing clients are required to disclose two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and proof of address (typically a Utility Bill less than 3 months old).

Evidence of source of monies is also necessary in compliance with the money laundering laws as conveyancers are required to investigate that the funds you are utilising to buy a property (whether it be the deposit for exchange or the full purchase amount where you are a cash purchaser) has originated from an acceptable source (such as an inheritance) as opposed to the fruits of illegitimate activity.

Are the BSA planning on creating a online directory to to identify practices on the Loughborough BS conveyancing panel for instance in Plaistow?

We are not aware of any intention on the part of the BSA to promote such a register.

I was pointed in your direction by a number of property agents in Plaistow to select a solicitor on your site. Is there a financial incentive for Estate Agents to market your site ahead of a competitor’s?

We don’t give any financial incentive for directing people in our direction. We found it would be just too difficult a fee because a client could think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.

I have given up trying to purchase the freehold in Plaistow. Can this matter be resolved via the Leasehold Valuation Tribunal?

Where there is a missing landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the amount due.

An example of a Lease Extension matter before the tribunal for a Plaistow residence is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case was in relation to 1 flat. The remaining number of years on the lease was 69.77 years.

In relation to leasehold conveyancing in Plaistow what are the most frequent lease problems?

Leasehold conveyancing in Plaistow is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

Repairing obligations to or maintain parts of the building Service charge per centages that don't add up correctly leaving a shortfall

You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Coventry Building Society, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.

I'm remortgaging a property in Plaistow. I have found my conveyancer's company on the Law Society's list, but I can't locate my conveyancer's name on the list. Should I be concerned?

Not every individual in the company must be listed by the regulator. Provided there is a manager qualified to 'oversee' the transaction, the actual day-to-day activity can be undertaken by unlicensed staff.