What does my ID and proof of funds have anything to do with my conveyancing in Blagdon? Is this really necessary?
To satisfy the Money Laundering Regulations any Blagdon conveyancing firm will require proof of identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility account evidencing where you reside.
In accordance with Money Laundering Regulations, conveyancers are obliged by law to ascertain not only the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. An unwillingness to disclose this will result in your solicitor cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to inform the appropriate authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
I am purchasing a house and require a conveyancing solicitor in Blagdon who is on the Bank of Ireland approved. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Bank of Ireland in certain locations such as Blagdon. We dont recommend any particular firm.
Will commercial conveyancing searches reveal planned roadworks that may impact a commercial land in Blagdon?
Its becoming the norm that commercial conveyancing solicitors in Blagdon will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Blagdon. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Blagdon.
For each commercial conveyancing transaction in Blagdon it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can cause delays to Blagdon commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Blagdon.
I opted to have a survey carried out on a property in Blagdon before appointing lawyers. I have been informed that there is a flying freehold element to the house. Our surveyor advised that some banks tend not grant a mortgage on a flying freehold property.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. If you e-mail us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Blagdon. Conveyancing will be smoother if you use a solicitor in Blagdon especially if they are familiar with such properties in Blagdon.
Should I be concerned about brokers that I am dealing with are suggesting a national conveyancing firm as opposed to a local Blagdon conveyancing firm?
As is the case with many service providers, often referrals from family and friends can be very helpful. Nevertheless there are lots of players in a conveyancing matter; estate agents, financial adviser and lenders might all recommend lawyers to choose. On occasion the conveyancers might be known to one of the organisations as experts in their field, but sometimes there may be a commercial relationship behind the endorsement. You are free to choose your preferred lawyer. Don't forget that some mortgage providers specify a panel list of conveyancers you have to use for the mortgage aspect of your transaction.
In relation to leasehold conveyancing in Blagdon what are the most frequent lease problems?
There is nothing unique about leasehold conveyancing in Blagdon. Most leases are unique and legal mistakes in the legal wording can result in certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
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Insurance obligations
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Virgin Money, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.
I invested in buying a studio flat in Blagdon, conveyancing was carried out 10 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Blagdon with a long lease are worth £202,000. The average or mid-range amount of ground rent is £60 yearly. The lease expires on 21st October 2081
With 57 years unexpired we estimate the premium for your lease extension to be between £28,500 and £33,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.