In what way does my ID and proof of funds have anything to do with my conveyancing in Ringwood? What am I being asked for?
To satisfy the Money Laundering Regulations any Ringwood conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility bill showing your correct address.
In accordance with Money Laundering Regulations, property lawyers are duty bound to investigate not simply the identity of conveyancing clients but also the source of monies that they receive in respect of any matter. Refusal to disclose this may lead to your lawyer terminating 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 make a disclosure to the relevant authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.
My wife and I are planning on selling our home in Ringwood and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A local conveyancer would know this is not the case. For the life of me I don't know why the buyers used a national conveyancing outfit as opposed to a conveyancing solicitor in Ringwood. We have lived in Ringwood for six years we know of no issue. Do we contact our local Authority to get clarification that there is no issue.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I acquired my flat on 2 February and my personal details is not yet registered. Should I be concerned? My conveyancing solicitor in Ringwood advises it should be recorded in a couple of weeks. Are transfers in Ringwood particularly slow to register?
There is nothing unique about conveyancing in Ringwood registration formalities. Rather than based on location, timeframes can differ according to the party submitting the application, whether it is in order and if the Land registry have to notify any interested persons or bodies. At present roughly 80% of submission are fully addressed in less than three weeks but some can be subject to longer delays. Historically registration occurs once the buyer has moved in to the property so an expedited registration is not always an essential issue but if there is a degree of urgency associated with the registration then you or your conveyancer must speak with the land registry and explain the circumstances.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Ringwood is the location of the property. Is there any guidance you can give?
Flying freeholds in Ringwood 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 Ringwood you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ringwood 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 property.
Am I best advised to go with a Ringwood conveyancing lawyer who is local to the property I am buying? An old friend can conduct the legal formalities however they are based 300miles away.
The primary upside of using a local Ringwood conveyancing practice is that you can pop in to execute paperwork, present your identification documents and apply pressure on them where appropriate. Having local Ringwood know how is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and the majority were impressed that should outweigh using an unknown Ringwood conveyancing lawyer solely due to them being Ringwood based.
I want to rent out my leasehold flat in Ringwood. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Your lease governs relations between the landlord and you the leaseholder; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Ringwood do not prevent strict prohibition on subletting – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
I own a leasehold flat in Ringwood, conveyancing was carried out March 2004. Can you work out an approximate cost of a lease extension? Equivalent properties in Ringwood with a long lease are worth £207,000. The ground rent is £60 charged once a year. The lease comes to an end on 21st October 2082
You have 57 years remaining on your lease we estimate the price of your lease extension to be between £28,500 and £33,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.