In what way does my ID and proof of funds have anything to do with my conveyancing in High Wycombe? Why is this being asked of me?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identification documents of the person or body they are dealing with before they can accept their conveyancing instruction. The Client Care letter that you need to sign will no doubt reaffirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you refuse to hand over ID verification documents, your solicitor would not be able to act for you.
My bid for a property was accepted at auction in High Wycombe. Conveyancing is necessary. What happens now?
Having for in every practical sense signed on the dotted line you now have to hire the services of a conveyancing practitioner quickly as you are faced with a pending deadline in which to complete the property. An auction property will have an associated legal pack. This will likely include most,if not all of the paperwork that your solicitor will need. Where you are dealing with leasehold premises the conveyancing pack should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to a leasehold property. You should pass this on to your appointed conveyancing solicitor as soon as possible. Do make sure that you have funds in order to complete the transaction on the set completion date.
I can not fathom if my bank requires a lease extension. I have telephoned my High Wycombe building society branch on various occasions and was told they are content with the situation and they would lend. My High Wycombe conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they will not lend based on their specific requirements. Who do I believe?
Your lawyer has to follow the CML Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am selling my flat. I had a double glazing fitted in December 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, TSB are being a right pain. The High Wycombe solicitor who is on the TSB conveyancing panel is recommending indemnity insurance as a solution but TSB are insisting on a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I know that there are debates on Chancel Insurance on online forums. Am I compelled to have this when buying a residence in High Wycombe? or Apparently there is a law dating back centuries that could mean that house owners residing in a parish church boundary will be compelled to contribute towards maintenance to the chancel within the church. Is this relevant for conveyancing in High Wycombe?
Unless a previous purchase of the house took place after 12 October 2013 you can assume that conveyancing practitioners handling conveyancing in High Wycombe to continue to propose a a chancel search and or insurance against a claim.
I am buying my first flat in High Wycombe with the aid of help to buy. The sellers refused to budge the price so I negotiated £7000 of extras instead. The property agent advised me not disclose to my conveyancer about the extras as it would put at risk my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Due to the advice of my in-laws I had a survey completed on a house in High Wycombe prior to instructing solicitors. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some lenders will not grant a mortgage on such a home.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in High Wycombe. Conveyancing will be smoother if you use a solicitor in High Wycombe especially if they regularly deal with such properties in High Wycombe.
I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in High Wycombe. Conveyancing advisers have are soon to be appointed. Will they explain the issues?
The majority of houses in High Wycombe are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in High Wycombe so you should seriously consider shopping around for a High Wycombe conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your solicitor should advise you fully on all the issues.
I inherited a basement flat in High Wycombe, conveyancing formalities finalised in 2007. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in High Wycombe with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 yearly. The lease ends on 21st October 2079
With 55 years remaining on your lease the likely cost is going to span between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.