What does my ID and proof of funds have anything to do with my conveyancing in Lee On The Solent? Is this really warranted?
Lee On The Solent conveyancing solicitors and indeed property practitioners throughout the UK have a duty under Anti-terror and anti-money-laundering rules to check the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and proof of address (usually a Utility Bill no older than three months).
Confirmation of the origin of funds is also necessary in compliance with the money laundering regulations as conveyancers have a duty to investigate that the money you are utilising to acquire a property (be it the exchange deposit or the total purchase amount where you are buying mortgage free) has come from an acceptable source (such as employment savings) rather than the fruits of illegitimate behaviour.
My lender has recommended a law firm on their panel based in Lee On The Solent but I would rather instruct a conveyancing lawyer in Lee On The Solent local to me. Can you assist?
Not all Lee On The Solent conveyancing firms are listed all banks conveyancing panel. Use our search tool to locate a Lee On The Solent conveyancing solicitor on the on the lender panel.
My friend recommended that where I am purchasing in Lee On The Solent I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally included in the estimate for your Lee On The Solent conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Lee On The Solent around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Lee On The Solent Education with maps and statistics, Local Amenities and other useful information regarding Lee On The Solent.
I have been on the look out for a flat up to £305k and found one near me in Lee On The Solent I like with amenity areas and station in the vicinity, the downside is that it only has 49 years unexpired on the lease. There is not much else in Lee On The Solent in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you require a mortgage that many years will likely be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
I am using a search engine for the phrase on line conveyancing in Lee On The Solent it brings up many conveyancerslocally. With so much choice what is the best way to find the right property lawyer for the sale of my house?
The ideal method of choosing the right conveyancer is through a trusted recommendation, so seek the opinion of friends and family who have purchased a property in Lee On The Solent or the respected estate agent or mortgage broker. Fees for conveyancing in Lee On The Solent differ, so it's a good idea to secure at least three costs illustrations from varying types of conveyancers. Make sure that you clarify that the fees are fixed.
I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Lee On The Solent. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Lee On The Solent ?
The majority of houses in Lee On The Solent are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can help the conveyancing process. We note that you are buying in Lee On The Solent in which case you should be shopping around for a Lee On The Solent conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer will report to you on the legal implications.
I bought a ground floor flat in Lee On The Solent, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Lee On The Solent with a long lease are worth £190,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease finishes on 21st October 2083
With 62 years left to run we estimate the price of your lease extension to span between £17,100 and £19,800 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account 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 seeking the advice of a professional.