What does my ID and proof of funds have anything to do with my conveyancing in Scarborough? Is this really necessary?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to check the identification documents of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lender will also require certain documents to be checked. If you are unwilling to provide ID verification documents, your lawyer can not take you on as a client.
I am about to put an offer on a leasehold property in Scarborough. The property agents assure me that it is the norm for flats in Scarborough to have less than 75 years remaining. I am taking out a mortgage with Platform. Is this going to be a problem if the lease has 70 years unexpired.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 22/7/2024 the requirements read as follows :
It has been five months since my purchase conveyancing in Scarborough took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing a new build house in Scarborough with a mortgage from Nationwide Building Society. The sellers refused to move on the amount so I negotiated 6k of extras instead. The house builders rep advised me not reveal to my conveyancer about the deal as it would put at risk my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey carried out on a property in Scarborough before instructing solicitors. I have been informed that there is a flying freehold element to the house. My surveyor has said that some mortgage companies tend refuse to grant a mortgage on such a premises.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. If you e-mail us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Scarborough. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Scarborough to see if the conveyancing will be more expensive.
Can you offer any advice when it comes to choosing a Scarborough conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Scarborough conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Scarborough conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be useful:
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What volume of lease extensions have they carried out in Scarborough in the last 12 months?
Leasehold Conveyancing in Scarborough - A selection of Questions you should consider before Purchasing
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It is important to be aware if redecorating or some other major work is due in the foreseeable future that will be shared by the tenants and will materially increase the the service charges or necessitate a specific invoice. What prohibitions are there in the Scarborough Lease? Please inform me if there are any major works anticipated that will likely add a premium to the service costs?