I am about to exchange buying a property in Flackwell Heath but as a result of damage from the recent storms I have was able negotiate compensation from the seller of £3k taking the form of a deduction in the price. This was going to be addressed as part of amending the contract however Santander are not allowing this. Why were they involved?
Any conveyancing practitioner being on a Santander conveyancing panel is obliged to inform Santander of any amendments to the purchase price. If you prohibit your solicitor to notify the reduction to Santander then they would have to discontinue acting for you. In addition, Santander and you would have to appoint a new property lawyer for your conveyancing in Flackwell Heath.
In what way does my ID and proof of funds have anything to do with my conveyancing in Flackwell Heath? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Flackwell Heath 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 account evidencing your correct address.
Under Money Laundering Regulations, conveyancers are required to check not just the identity of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this may lead to your solicitor terminating their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to make a disclosure to the relevant authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
Do I need to have a meeting at the offices of the solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Flackwell Heath so that I can pop in to their offices if necessary.
These days conveyancing panel lawyers for lenders conduct the vast majority of work through Royal Mail, e-mail or over the phone. This enables them to carry out the legal work for your home move no matter where you live in England or Wales. That being said you should check if you can still book an appointment to visit conveyancing lawyer if needed.
Are there restrictive covenants that are commonly identified during conveyancing in Flackwell Heath?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Flackwell Heath. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the advice of my in-laws I had a survey completed on a house in Flackwell Heath in advance of instructing conveyancers. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some lenders will not grant a mortgage on a flying freehold house.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. If you e-mail us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Flackwell Heath. Conveyancing will be smoother if you use a solicitor in Flackwell Heath especially if they regularly deal with such properties in Flackwell Heath.
What makes a Flackwell Heath lease problematic?
Leasehold conveyancing in Flackwell Heath is not unique. Most leases are drafted differently and drafting errors can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:
A provision to repair to or maintain elements of the premises
You could encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Coventry Building Society, and Clydesdale 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 buyer to pull out.
I invested in buying a ground floor flat in Flackwell Heath, conveyancing formalities finalised August 2000. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Flackwell Heath with over 90 years remaining are worth £170,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease expires on 21st October 2100
With only 79 years remaining on your lease we estimate the premium for your lease extension to be between £7,600 and £8,800 as well as costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.