I am under pressure from the mortgagee in possession of a property in Quedgeley to exchange within four weeks. What can I do to expedite matters?
In the event that you are under time constraints for your conveyancing it is advisable to make sure that your lawyer is familiar with the area as they will benefit local contacts and knowledge. It is possible that they would have transacted otherproperties in the same road. Therefore consider using a Quedgeley conveyancing firm. Second, check that the conveyancing firm is on the lender panel. It is said that nearly one in five of Quedgeley conveyancing deals are held up or jeopardised after finding out that a purchaser’s lawyer was not on their mortgage lender’s panel. This can often result in the transaction being delayed by almost three weeks. It is claimed that this issue affects in the region of 100,000 home moves every year. Many Quedgeley conveyancing practices can not represent certain mortgage companies so do check at the outset.
What does my ID and proof of funds have anything to do with my conveyancing in Quedgeley? What am I being asked for?
Quedgeley conveyancing solicitors as well as nationwide property lawyers accross the UK have a duty under money laundering regulations to check the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified identification; proof of ID (usually a Passport or Driving Licence) and proof of address (usually a Utility Bill less than 3 months old).
Proof of the origin of funds is also necessary under the money laundering regulations as lawyers have a duty to check that the funds you are using to buy a property (whether it be the deposit for exchange or the full purchase price where you are buying without a mortgage) has come from a reputable source (such as employment savings) rather than the proceeds of illegitimate activity.
I own a 4 bedroom Edwardian house in Quedgeley. Conveyancing solicitor represented me and Nottingham Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Quedgeley and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with your conveyancing lawyer who conducted the conveyancing.
About to purchase a new build flat in Quedgeley. Conveyancing is necessary evil 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.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Quedgeley
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Quedgeley is where the house is located. Is there any advice you can give?
Flying freeholds in Quedgeley are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Quedgeley you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Quedgeley may decide 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.
My husband and I plan to buy our first home in Quedgeley. Conveyancing practitioner has been chosen. The mortgage adviser pointed out that a survey is not necessary as the house is just 20 yrs old.
At the very least you should order a Home Buyer's Report. As the premises was built more than a decade ago the property will not come with a warranty, so you don't want to take a risk. For a property that age with no signs of defects a Home Buyer's report could be enough. The report should highlight any apparent problems and recommend additional investigation if appropriate. Where there are any signs of problems seek a full structural survey.