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 Freehold Enfranchisement matter before the tribunal for a Plaistow residence is Ravensbourne Lodge 4 Highland Road in February 2013. the Tribunal held that the amount payable for the freehold was £22,268

What makes a Plaistow lease unmortgageable?

There is nothing unique about leasehold conveyancing in Plaistow. Most leases are unique and drafting errors can result in certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

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

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Royal Bank of Scotland, and Barclays Direct all have express 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 provide security, forcing the buyer to pull out.

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

Not all staff in the practice must be listed by the regulator. As long there is a manager qualified to 'oversee' the conveyancing, the actual day-to-day activity can be conducted by unqualified staff.