What does my ID and proof of funds have anything to do with my conveyancing in Catton? Why is this being asked of me?
You are right in these requests have nothing to do with conveyancing in Catton. However these days you can not proceed with any conveyancing process if you have not handing over evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence and a council tax bill. Remember if you are supplying your driving licence as proof of identification it needs to be both the paper element as well as the photo card part, one is not satisfactory in the absence of the other.
Proof of your source of funds is necessary in accordance with the Money Laundering Regulations. Don’t be offended when when this is requested of you as your lawyer will need to have this information on record. Your Catton conveyancing solicitor will need to see evidence of proof of funds before they are able to accept any funds from you into their client account and they should also ask additional queries regarding the source of monies.
Will my conveyancer be raising questions concerning flooding during the conveyancing in Catton.
The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Catton. Some people will purchase a house in Catton, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, however there are a number of searches that can be initiated by the purchaser or by their solicitors which can figure out the risks in Catton. The standard information given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the owner to determine if the premises has suffered from flooding. In the event that the premises has been flooded in past which is not disclosed by the seller, then a buyer could issue a compensation claim resulting from an incorrect answer. The buyer’s lawyers may also commission an environmental report. This will indicate whether there is any known flood risk. If so, more detailed investigations should be initiated.
I own a semi-detached Victorian house in Catton. Conveyancing lawyer acted for me and Barnsley Building Society. I did a free Land Registry search last week and there are two entries: the first freehold, the second leasehold with the matching property. I thought I was buying a freehold how can I check?
You need to read 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Catton and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with your conveyancing practitioner who completed the work.
The estate agent has sent us the confirmation of our purchase of a new build flat in Catton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Catton
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Please confirm the Lease plans are surveyor prepared. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
Should I appoint a Catton conveyancing lawyer based in the location that I am hoping to buy? I have an old university friend who can conduct the legal work but his firm is located 400miles away.
The benefit of a high street Catton conveyancing firm is that you can pop in to execute paperwork, deliver your ID and pester them where appropriate. They will also have local intelligence which is a benefit. That being said it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and they were content that should surpass using an unfamiliar Catton conveyancing lawyer just because they are local.
Having had my offer accepted I require leasehold conveyancing in Catton. Before I set the wheels in motion I require certainty as to the remaining lease term.
Assuming the lease is registered - and 99.9% are in Catton - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a basement flat in Catton, conveyancing formalities finalised 8 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Catton with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2100
You have 76 years unexpired we estimate the premium for your lease extension to range between £8,600 and £9,800 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.