What does my ID and proof of funds have anything to do with my conveyancing in Kingswood? Is this really warranted?
It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Kingswood. However these days you can not proceed with any conveyancing process if you have not supplying proof of your identity. This usually takes the form of a either your passport or driving licence as well as a bank statement. Remember if you are providing your driving licence as evidence of identification it needs to be both the paper section and photo card part, one is not satisfactory without the other.
Verification of your source of funds is necessary under Money Laundering Regulations. Please do not be offended when you are asked to produce this as your conveyancing solicitor must retain this information on record. Your Kingswood conveyancing solicitor will need to see evidence of proof of funds before they are able to accept any monies from you into their client account and they will also ask further queries concerning the source of funds.
My wife and I are buying a apartment in Kingswood. I might seem paranoid but how we can trust a solicitor? On the day of competition we will need to put funds into their account. What protection do we have from them run away with our monies?
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.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Kingswood?
There are many recorded licenced Conveyancers in Kingswood and Solicitor practices in Kingswood who provide Conveyancing services It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal work in the home buying process. The two can handle other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Last month we had a mortgage agreed in principle with UBS. Kingswood conveyancing lawyers were selected. How long does it take for UBS to send the offer to the solicitor?
There is no definitive answer here. Have UBS conducted the survey? Have you informed UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
About to purchase a new build flat in Kingswood. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Kingswood
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one close by in Kingswood I like with open areas and transport links nearby, the downside is that it's only got 61 years on the lease. I can't really find anything else in Kingswood for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage that many years will likely be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
I need to instruct a conveyancing solicitor for purchase conveyancing in Kingswood. I happened to discover a web site which appears to be the ideal solution If it is possible to get all this stuff done via web that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I own a leasehold flat in Kingswood. Conveyancing and Coventry Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Kingswood who acted for me is not around. What should I do?
First make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Kingswood conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Leasehold Conveyancing in Kingswood - Examples of Queries Prior to buying
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Are there any major works on the horizon that will increase the service costs? How is the lease structured? How many of the leaseholders are in arrears for their service charge payments?