What does my ID and proof of funds have anything to do with my conveyancing in Earlestown? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Earlestown conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility bill evidencing your correct address.
In accordance with Money Laundering Regulations, conveyancing solicitors are required to investigate not just the identity of conveyancing clients but also the origin of fund that they receive in respect of any matter. An unwillingness to disclose this may 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 make a disclosure to the appropriate authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.
I am assisting my aunt sell her property in Earlestown. Will the conveyancing solicitor commission an energy performance certificate or it is for me to see to?
After the demise of HIPs, energy performance certificates was kept a compulsory element of selling a house. An energy assessment needs to be to hand before the property is put on the market. It is not a task that solicitors normally arrange. If you are using a Earlestown conveyancing practitioner they may be willing to arrange EPC’s due to their relationships with reputable local providers
My stepmother pointed out to me me that in purchasing a property in Earlestown there may be various restrictions affecting the ability to carry out external alterations to a property. Is this right?
We are aware of a number of properties in Earlestown which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Earlestown should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Are all Earlestown Conveyancing Quality Solicitors on the Yorkshire BS conveyancing panel?
Some major lenders now make use of the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of firms.
A relative advised me that if I am purchasing in Earlestown I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally quoted for as part of the standard Earlestown conveyancing searches. It is not a small document of more than thirty pages, listing and detailing significant information about Earlestown around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Earlestown Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Earlestown Education with plans and statistics, Local Amenities and other useful data regarding Earlestown.
three months have elapsed following my purchase conveyancing in Earlestown completed. I have checked the Land Registry website which shows that I paid £200,000 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 residence 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 work for a long established estate agency in Earlestown where we have experienced a number of leasehold sales put at risk as a result of short leases. I have been given contradictory information from local Earlestown conveyancing solicitors. Can you clarify whether the vendor of a flat can commence the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I inherited a ground floor flat in Earlestown, conveyancing formalities finalised 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Earlestown with over 90 years remaining are worth £216,000. The ground rent is £50 yearly. The lease runs out on 21st October 2092
You have 68 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns 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.
Do I need to attend the offices of the bank conveyancing panel solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Earlestown so that I can pop in to their offices if required.
Whereas this was necessary twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Earlestown.