In what way does my ID and proof of funds have anything to do with my conveyancing in Eastleigh? Why is this being asked of me?
Eastleigh conveyancing solicitors and indeed property practitioners accross the UK have an obligation under Anti-terror and anti-money-laundering rules to verify the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to produce two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and evidence of address (usually a Bank Statement less than 3 months old).
Evidence of the origin of funds is also necessary under the money laundering laws as solicitors are mandated to ensure that the money you are using to acquire a property (whether it be the deposit for exchange or the full purchase amount if you are a cash purchaser) has originated from a reputable source (such as an inheritance) rather than the proceeds of criminal behaviour.
My wife and I are selling our house in Eastleigh and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. Any local lawyer would know this is not the case. It does beg the question why the buyers used an online conveyancing firm as opposed to a conveyancing solicitor in Eastleigh. Having lived in Eastleigh for three years we know of no issue. Should we get in touch with our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing firm already. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I'm buying a new build house in Eastleigh with a loan from Accord Mortgages Ltd. The builders would not budge the amount so I negotiated 6k of additionals instead. The sale representative told me not inform my solicitor about this deal as it may impact my mortgage with the lender. Is this normal?.
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.
My business partner and I are hoping to take an assignment of a lease of an office on the high street. Can you recommend solicitors offering fixed charges for commercial conveyancing in Eastleigh for under £1,200?
We can recommend firms who host a wealth of experience of commercial conveyancing in Eastleigh, including the sale and purchase of businesses as well as simply premises. Whether you are intending to acquire or sell a shop, pub, restaurant, office, retail unit or a complete business we can put you in touch with the right firm. Regarding the charges this will depend on the structure and nuances of the proposed transaction. Please provide us with your details or call us so that we can furnish you with comprehensive commercial conveyancing calculation.
We are 3 weeks into a freehold purchase having been directed to solicitors by the estate agent to do our conveyancing in Eastleigh. I am am starting to be disappointed with the level of service. Can you help me find new conveyancers?
A solicitor would need to be very bad to suggest changing them. Has your loan offer been issued? In the event that it has you will need to make them aware of the new contact details and have the offer are re-issued. The solicitor ideally should be on the lenders panel to avoid added fees and delays. That should be your first question of the new solicitors. Our search tool will assist you in finding a lender approved lawyer for your conveyancing in Eastleigh
I am attracted to a couple of maisonettes in Eastleigh both have about 50 years remaining on the leases. Do I need to be concerned?
There are no two ways about it. A leasehold flat in Eastleigh is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the salability of the premises. The majority of buyers and lenders, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 premises 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 Eastleigh conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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.
I purchased a leasehold flat in Eastleigh, conveyancing having been completed 9 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Eastleigh with over 90 years remaining are worth £197,000. The ground rent is £55 charged once a year. The lease comes to an end on 21st October 2079
With only 56 years left to run we estimate the price of your lease extension to range between £29,500 and £34,000 as well as legals.
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 investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.