What does my ID and proof of funds have anything to do with my conveyancing in Gowerton? What am I being asked for?
Gowerton conveyancing solicitors as well as nationwide property lawyers throughout the UK have a duty under Anti-terror and anti-money-laundering rules to check the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and proof of address (usually a Utility Bill no more than three months).
Evidence of the origin of funds is also necessary under the money laundering statutes as solicitors have a duty to check that the funds you are utilising to acquire a property (whether it be the deposit for exchange or the total purchase amount if you are buying without a mortgage) has come from a reputable source (such as an inheritance) and is not the fruits of criminal behaviour.
Do I need to attend the offices of the solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Gowerton so that I can attend their offices when needed.
These days approved lawyers for lenders undertake their work through the post, e-mail or over the phone. This means that they can undertake the conveyancing transaction regardless of where you live in England or Wales. Nevertheless you should check if you have the option of visiting the offices of your conveyancing lawyer if just in case this is required.
My wife and I are purchasing a property in Gowerton. It might be a silly question but how we can trust a lawyer? On completion day we will need to send our life savings into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My bid for a property was accepted at auction in Gowerton. Conveyancing is required. What happens now?
Given that you are now to in every practical sense signed on the dotted line you must hire the services of a conveyancing lawyer as a matter of urgency as you are facing a tight deadline in which to complete the property. An auction property will ordinarily have a corresponding legal pack. This will likely include most,if not all of the documents that your conveyancer requires. If you have purchased leasehold property the conveyancing pack may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to leasehold premises. You must give this to the solicitor working for you as soon as possible. Do make sure that that you have the requisite funding in order to complete on the on the contractual date .
Completion of my remortgage has taken place for my property in Gowerton. Conveyancing was satisfactory but I would like to complain about the lender. How does one go about formally complaining?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
How does conveyancing in Gowerton differ for new build properties?
Most buyers of new build premises in Gowerton approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is built. This is because builders in Gowerton tend to buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Gowerton or who has acted in the same development.
What does commercial conveyancing in Gowerton cover?
Gowerton conveyancing for business premises covers a broad range of advice, given by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
I work for a busy estate agent office in Gowerton where we have experienced a number of flat sales jeopardised due to short leases. I have been given contradictory information from local Gowerton conveyancing firms. Could you clarify whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 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.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 purchaser.
I invested in buying a garden flat in Gowerton, conveyancing formalities finalised November 2012. Can you work out an approximate cost of a lease extension? Similar flats in Gowerton with an extended lease are worth £176,000. The ground rent is £50 levied per year. The lease finishes on 21st October 2105
With 80 years left to run we estimate the price of your lease extension to span between £8,600 and £9,800 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.