What does my ID and proof of funds have anything to do with my conveyancing in Port Isaac? Is this really necessary?
In order to comply with Money Laundering Regulations any Port Isaac conveyancing firm will require proof of identity in all conveyancing matters. This is usually dealt with by provision of a passport and an original bank statement or utility account evidencing where you live.
Under Money Laundering Regulations, property lawyers are duty bound to validate not just the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this will lead to your conveyancer cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to inform the relevant authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
My bid for a property was accepted at auction in Port Isaac. Conveyancing is needed. What happens now?
Having exchanged you will need to choose a conveyancing lawyer quickly as you are faced with a pending a drop dead date to complete the property. All auction property will have an associated auction set of papers. This will include most,if not all of the paperwork that your lawyer requires. If you have purchased leasehold property the conveyancing pack should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to a leasehold property. You must hand this to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that your finances are in place to complete on the date specified in the contract.
We expect to receive a AIP from Lloyds this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Lloyds recommend any Port Isaac solicitors on the Lloyds conveyancing panel, or is it better to go independently?
You will need to appoint Port Isaac solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
Yorkshire BS have agreed my mortgage in principle, my offer on a apartment in Port Isaac has been accepted, now what?
Your estate agent will want to know who your solicitors are (make sure the lawyers are on the bank’s approved list). Telephone Yorkshire BS or the financial adviser and finish off any relevant forms. Yorkshire BS will sellect a valuer who will get in contact with the estate agent or owners to arrange an appointment. Once conducted (assuming no problems) it takes on average ten days for the mortgage offer to be issued. Yorkshire BS will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Port Isaac.
Despite weeks of looking the Title Certificate and documents to our property can not be found. The solicitors who handled the conveyancing in Port Isaac 10 years ago no longer exist. What are my options?
Gone are the days when you need to hold title official documentation to establish that you are the registered proprietor of land or property, as the Land Registry have everything they need in a digital format.
I am using a search engine for the phrase on line conveyancing in Port Isaac it reveals numerous conveyancersin the area. With so much choice what is the best way to find the suitable property lawyer for my move?
The preferential way of finding the right conveyancer is via trusted recommendation, so enquire of colleagues and family who have bought a property in Port Isaac or the respected estate agent or mortgage broker. Costs for conveyancing in Port Isaac vary, so it's advisable to obtain a minimum of four fee estimates from varying types of property lawyers. Be sure to secure confirmation that the fees are fixed.
Back In 2002, I bought a leasehold flat in Port Isaac. Conveyancing and Virgin Money mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Port Isaac who previously acted has long since retired. What should I do?
First contact HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to instruct a Port Isaac conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I invested in buying a 1 bedroom flat in Port Isaac, conveyancing having been completed June 1996. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Port Isaac with an extended lease are worth £192,000. The average or mid-range amount of ground rent is £55 per annum. The lease runs out on 21st October 2080
With only 54 years unexpired the likely cost is going to span between £32,300 and £37,400 plus costs.
The suggested premium range 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 may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.
We are about to purchasing a property in Port Isaac. Could the solicitor have the amount we are are buying for confidential from the likes of Nestoria. Is this possible and how?
HM Land Registry are legally obliged to specify price sold data on a register of the title for residential properties countrywide including premises in Port Isaac. The Title Register is an open document, so HM Land Registry would be breaking the law if they failed to allow access to the register.
You can make a request of the Land Registry to hide the price paid data but the response would be in the negative.