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

Upper Tooting conveyancing solicitors and indeed property practitioners accross the UK have an obligation under Anti-terror and anti-money-laundering rules to verify the identity of any client with a view to satisfy themselves that clients are who they say they are.

Conveyancing clients will need to provide two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and proof of address (typically a Bank Statement no more than three months).

Proof of source of funds is also required in compliance with the money laundering laws as conveyancers are duty bound to check that the money you are utilising to purchase a property (be it the exchange deposit or the total purchase monies where you are buying without a mortgage) has originated from legitimate source (such as an inheritance) and is not the product of illegitimate behaviour.

We wanted to use a conveyancing solicitor in Upper Tooting for our home move. Our broker informed us that our mortgage lenders Virgin Money won't deal with them. Surely this is unduly restrictive?

A bank will insist on an approved solicitor act for it. Borrowers are expected to meet the charges for this. Please make use of our tool to choose a solicitor to carry conveyancing in Upper Tooting on the Virgin Money approved list of solicitors.

What will a local search tell me about the property we're buying in Upper Tooting?

Upper Tooting conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search organisations for example Xpress Legal The local search is essential in every Upper Tooting conveyancing purchase; as long as you don’t want any nasty surprises after you move into your new home. The search should reveal data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.

Are there restrictive covenants that are commonly picked up during conveyancing in Upper Tooting?

Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Upper Tooting. 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 purchasing my first flat in Upper Tooting with a mortgage from Barclays Direct. The sellers refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The sale representative told me not disclose to my solicitor about this extras as it may impact my loan with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer 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.