In what way does my ID and proof of funds have anything to do with my conveyancing in Bridgwater? Why is this being asked of me?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the potential client they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign should stipulate this. Your lender will also require certain documents to be checked. If you refuse to hand over ID verification documents, your lawyer can not take you on as a client.
What does a local search inform me regarding the property my wife and I buying in Bridgwater?
Bridgwater conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Searches UK The local search is essential in every Bridgwater conveyancing purchase; as long as you don’t want any nasty once you have moved into your new home. The search should reveal data on, amongst other things, details on planning applications relevant to the premises (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 thirteen subject headings.
I own a 4 bedroom Edwardian property in Bridgwater. Conveyancing solicitor represented me and Alliance & Leicester . I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bridgwater and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with your conveyancing lawyer who conducted the purchase.
I opted to have a survey done on a property in Bridgwater before instructing lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies may refuse to give a loan on a flying freehold home.
It depends who your proposed lender is. HSBC has different requirements from Birmingham Midshires. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Bridgwater. Conveyancing may be slightly more expensive based on your lender's requirements.
I am 18 days into a freehold purchase having been recommend to solicitors by the selling agent to perform conveyancing in Bridgwater. I am not happy. Can you you assist me in finding new lawyers?
A lawyer would need to be really bad to suggest changing them. Has the mortgage been issued? In the event that it has you need to advise them of the replacement solicitor and get the mortgage documents are re-sent. Your solicitor ideally should be on the lenders approved list to avoid escalating fees and complications. That should be your starting point. The search tool will assist you in finding a bank approved conveyancer for your home move in Bridgwater
I've recently bought a leasehold flat in Bridgwater. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Bridgwater Conveyancing for Leasehold Flats - Examples of Queries before Purchasing
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Is the freehold reversion owned jointly by the leaseholders? If a Bridgwater lease has no more than eighty years it will affect the value of the property. It is worth checking with your lender that they are happy with the length of the lease. Leases with less than 80 years remaining means that you will probably have to extend the lease at some point and it is worth finding out what this will be. Remember, in most cases you will need to own the residence for two years in order to be eligible to extend the lease. How much is the yearly maintenance fee and ground rent?