In what way does my ID and proof of funds have anything to do with my conveyancing in Fillongley? Why is this being asked of me?
Fillongley conveyancing solicitors and indeed property practitioners accross the UK have a duty under money laundering regulations 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 supply two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and evidence of address (usually a Utility Bill no more than three months).
Proof of source of monies is also required under the money laundering laws as conveyancers are obliged to check that the funds you are utilising to buy a property (be it the exchange deposit or the full purchase monies where you are a cash purchaser) has originated from a reputable source (such as an inheritance) rather than the product of illegitimate activity.
It has been 3 months since my purchase conveyancing in Fillongley completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing a new build house in Fillongley benefiting from help to buy. The developers would not move on the price so I negotiated 6k of additionals instead. The estate agent advised me not disclose to my lawyer about this deal as it could jeopardize my loan with the lender. Should I keep quiet?.
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.
I need to retain a conveyancing solicitor for remortgage conveyancing in Fillongley. I have chance upon a web site which appears to be the ideal answer If it is possible to get all this stuff completed via web that would be preferable. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am attracted to a two maisonettes in Fillongley which have in the region of fifty years left on the lease term. Will this present a problem?
There are no two ways about it. A leasehold apartment in Fillongley 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 lenders, leases with under eighty years become less and less attractive. On a more upbeat 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 Fillongley 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.
Leasehold Conveyancing in Fillongley - A selection of Questions you should consider before Purchasing
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Who takes responsibility for maintaining and repairing the block? How much is the ground rent and service charge? On the whole the outlay for major works are not included within maintenance charges, albeit that some managing agents in Fillongley require tenants to pay into a sinking fund and this is used to offset against larger repairs or maintenance.
Our lawyer in Fillongley has identified a defect with the lease for the flat we are purchasing in Fillongley. The other side have put forward defective title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer says that as he is on the lender conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or the bank?
Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Fillongley conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the mortgage company are the client. The appropriate lender requirements have to be complied with by the lender conveyancing panel who has to balance acting for you and the mortgage company