In what way does my ID and proof of funds have anything to do with my conveyancing in Potswood? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Potswood conveyancing firm will require proof of identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility account showing where you live.
Under Money Laundering Regulations, property lawyers are obliged by law to check not just the identity of conveyancing clients but also the origin of monies that they receive in respect of any matter. An unwillingness to disclose this will lead to your conveyancer terminating their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to inform the appropriate authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
Is there a search tool that I can use to discover of the solicitor carrying out my conveyancing in Potswood is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Yorkshire Building Society thus paying £175.00 in additional conveyancing costs.
Please do take advantage of the search tool on this site. Please choose the lender and type ‘Potswood’ or your location and you will discover numerous conveyancers located in Potswood or nearest you.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a simple, no chain conveyancing. Potswood is where the house is located. Is there any advice you can give?
Flying freeholds in Potswood are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Potswood you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Potswood may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I have been advised by numerous estate agents in Potswood to get a quote from a property lawyer using your seach tool. Is there a financial advantage for Estate Agents to promote your site over alternative conveyancing organisations?
We refuse to give any referral fee for sending work our way. We thought it would be too underhand to pay a commission because a client could think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I need to retain a conveyancing solicitor for leasehold conveyancing in Potswood. I have discover a site which appears to be the perfect offering If there is a chance to get all this stuff done via web that would be preferable. Should I be concerned? What are the potential pitfalls?
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?
Having checked my lease I have discovered that there are only Fifty years left on my lease in Potswood. I need to get lease extension but my freeholder is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to locate the freeholder. In some cases a specialist may be helpful to carry out a search and prepare a report which can be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the application to the County Court covering Potswood.
I acquired a 2 bed flat in Potswood, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Potswood with a long lease are worth £179,000. The average or mid-range amount of ground rent is £65 yearly. The lease ceases on 21st October 2082
With only 57 years remaining on your lease we estimate the premium for your lease extension to be between £26,600 and £30,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.