A mortgage offer from Nationwide for the refinancing of my single bedroom garden flat is expected any day now. Could you put forward a cheap conveyancing practitioner in Totterdown?
You have arrived at the wrong place to search for a cheap conveyancing solicitors in Totterdown. Our goal is to offer excellent value conveyancing but we do not aim to advertise as being the cheapest. Resist the temptation to appoint brokers offering low cost conveyancing in Totterdown. Optimistically, in being led by low cost conveyancing, you will receive what you pay for and at worst you will end up with a surprising uplift in additional fees and still not receive the service you were looking for.
What does my ID and proof of funds have anything to do with my conveyancing in Totterdown? Why is this being asked of me?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the ID of the potential client they are dealing with prior to agreeing to accepting their conveyancing retainer. The Terms and Conditions that you are required to sign should stipulate this. Your lender will also require certain documents to be checked. Where you refuse to provide identification documents, your lawyer would not be able to accept instructions from you.
About to purchase a new build apartment in Totterdown. Conveyancing is a frightening process 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 conveyancing.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Totterdown
-
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. 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. Please confirm the Lease plans are architect prepared.
I am looking for a flat up to £195,000 and identified one round the corner in Totterdown I like with a park and station nearby, the downside is that it only has 51 years unexpired on the lease. There is not much else in Totterdown suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
My wife and I purchased a leasehold house in Totterdown. Conveyancing and Lloyds TSB Bank mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Totterdown who previously acted has long since retired. Any advice?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Totterdown conveyancing lawyer to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I acquired a leasehold flat in Totterdown, conveyancing was carried out December 2005. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Totterdown with over 90 years remaining are worth £222,000. The ground rent is £50 charged once a year. The lease comes to an end on 21st October 2094
With 70 years unexpired the likely cost is going to range between £9,500 and £11,000 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
Why do I have to send my conveyancing practitioner with numerous items of ID before they can proceed with my conveyancing in Totterdown?
Totterdown lawyers are duty bound by the Law Society, SRA, HM Land Registry and current AML Regulations to certify that the have verified the identity of their clients. It is also sometimes a condition of your bank if you are taking a mortgage. Furthermore they have to complete various forms, particularly those relating to stamp duty land tax and need to have information such as your full names, national insurance number and DOB.