What does my ID and proof of funds have anything to do with my conveyancing in Brentwood? Why is this being asked of me?

You are right in the requirement set out by your lawyer has nothing to do with conveyancing in Brentwood. Nowadays you can not proceed with any conveyancing process if you have not supplying proof of your identity. This usually takes the form of a either your passport or driving licence as well as a council tax bill. Remember if you are providing your driving licence as proof of ID it needs to be both the paper section as well as the photo card part, one is not sufficient in the absence of the other.

Evidence of your source of funds is required in accordance with the Money Laundering Regulations. Please do not be offended when you are asked to produce this as your lawyer must have this information on file. Your Brentwood conveyancing practitioner will need to see evidence of proof of funds prior to accepting any money from you into their client account and they may also ask additional questions concerning the source of funds.

My partner and I have organised the release of further funds on our home loan from Aldermore as we want to carry out renovations to our house in Brentwood. Are we obliged to select a high street Brentwood solicitor on the Aldermore conveyancing panel to handle the legals?

Aldermore would not normally require firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore conveyancing panel.

I was told four weeks ago that my mortgage has been agreed to by Barclays. Is it usual for Barclays to only issue the offer once my solicitor in Brentwood is approved on their conveyancing panel? Barclays have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.

Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.

Our sealed bid on a property in Brentwood has been accepted, but there is a chain. The vendors have put an offer on somewhere, however it’s not yet agreed to, and have viewings of other flats booked. I have instructed a high street conveyancing solicitor in Brentwood. What do I do now? At what point do I apply for the mortgage with HSBC?

It is understandable to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (home loan application is in the region of one thousand pounds, then valuation, Brentwood conveyancing search fees, etc). First, you should check that your conveyancing practitioner is on the HSBC conveyancing panel. As to the next phase this very much dictated by the specifics of your transaction, attraction to this property and on the state of the market. During a buoyant market the majority of purchasers would apply for the mortgage with HSBC and pay for the valuation and only if it was satisfactory would they ask their lawyer to proceed with the conveyancing in Brentwood.

I am looking for a flat up to £235,500 and found one round the corner in Brentwood I like with amenity areas and railway links in the vicinity, the downside is that it's only got 49 years on the lease. There is not much else in Brentwood in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?

Should you require a mortgage that many years will likely be an issue. 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 property for a minimum of twenty four months you may 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.

Am I better off to go with a Brentwood conveyancing solicitor based in the area that I am hoping to buy? An old friend can carry out the legal formalities but her office is over three hundred kilometers away.

The benefit of a local Brentwood conveyancing practice is that you can visit the firm to execute documents, hand in your identification documents and apply pressure on them if necessary. Having local Brentwood know how is a benefit. However nothing is more important than finding someone that will do a good and efficient job. If you know people who used your friend and in the main were happy that must trump using an unknown Brentwood conveyancing solicitor just because they are local.

I am looking at a two flats in Brentwood both have in the region of forty five years left on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Brentwood is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. For most buyers and banks, leases with less than eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Brentwood conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Brentwood conveyancing firm to represent me?

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

An example of a Lease Extension case for a Brentwood residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The unexpired lease term was 57.5 years.