In what way does my ID and proof of funds have anything to do with my conveyancing in Yarmouth? Why is this being asked of me?
Yarmouth conveyancing solicitors as well as nationwide property lawyers accross the UK have a duty under Anti-terror and anti-money-laundering rules to check the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to supply two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and proof of address (usually a Bank Statement less than 3 months old).
Confirmation of the origin of monies is also required in compliance with the money laundering statutes as solicitors are obliged to check that the money you are utilising to purchase a property (whether it be the deposit for exchange or the full purchase amount if you are buying mortgage free) has come from legitimate source (such as employment savings) and is not the proceeds of illegitimate activity.
Is it necessary to pay for insurance to cover chancel repairs when acquiring a house in Yarmouth?
Unless a previous acquisition of the premises took place post 12 October 2013 you could take it that lawyers handling conveyancing in Yarmouth to remain recommending a chancel search and or insurance against a claim.
How does conveyancing in Yarmouth differ for new build properties?
Most buyers of new build property in Yarmouth come to us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Yarmouth usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Yarmouth or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Yarmouth before appointing solicitors. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some mortgage companies tend not issue a mortgage on such a house.
It depends who your proposed lender is. Santander has different instructions from Nationwide. If you e-mail us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Yarmouth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Yarmouth to see if the conveyancing will be more expensive.
I am thinking of appointing a conveyancing practitioner in Yarmouth for my purchase. Is it possible to see a firm’s complaints history with the profession’s regulator?
You can find presented Solicitor Regulator Association (SRA) decisions resulting from inquisitions commenced on or after Jan 2008. Visit Check a solicitor's record. To find information Pre 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The regulator may monitor call for training purposes.
In relation to leasehold conveyancing in Yarmouth what are the most frequent lease problems?
Leasehold conveyancing in Yarmouth is not unique. All leases are individual and legal mistakes in the legal wording can result in certain clauses are wrong. The following missing provisions could result in a defective lease:
A provision to repair to or maintain elements of the property Clauses dealing with recovering service charges for expenditure on the building or common parts.
You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Virgin Money, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.
I invested in buying a basement flat in Yarmouth, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Yarmouth with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease ends on 21st October 2075
With only 55 years left to run we estimate the price of your lease extension to be between £31,400 and £36,200 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.