What does my ID and proof of funds have anything to do with my conveyancing in Aylesbury? Is this really necessary?
To satisfy the Money Laundering Regulations any Aylesbury 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 account evidencing your correct address.
In accordance with Money Laundering Regulations, property lawyers are required to ascertain not only the ID of conveyancing clients but also the origin of fund that they receive in respect of any matter. An unwillingness to disclose this may lead to your solicitor ending 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.
Can you clarify what the consequences are if my lawyer’s firm is expelled from the Aldermore Conveyancing panel ahead of completing my conveyancing in Aylesbury?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
We're first time buyers - agreed a price, yet the property agent has warned us that the vendor will only proceed if we appoint the agent's preferred conveyancers as they need a ‘quick sale’. We would rather use a family conveyancer with experience of conveyancing in Aylesbury
We suspect that the owner is not behind this request. If they require ‘a quick sale', alienating a serious buyer is going to damage their objectives. Try to communicate with the sellers directly and explain that (a)you are serious purchasers (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)however you intend to appoint your own,trusted Aylesbury conveyancing solicitors - as opposed tothe ones that will give their negotiator at the agency a kickback or meet his conveyancing thresholds demanded by corporate headquarters.
My wife and I purchased a leasehold flat in Aylesbury. Conveyancing and Aldermore mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Aylesbury who acted for me is not around. Any advice?
The first thing you should do is contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Aylesbury conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I inherited a leasehold flat in Aylesbury, conveyancing having been completed in 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 properties in Aylesbury with an extended lease are worth £227,000. The ground rent is £50 charged once a year. The lease ceases on 21st October 2091
With only 72 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.
New build sellers have suggested I use a conveyancer and I've sought a quote from them. It's nearly two hundred pounds less expensive than my family Aylesbury solicitor. What's the catch?
Housebuilders normally have panels of conveyancing practitioners who expedite matters and who know the builder's documentation and conveyancing practitioner. Plenty of developers offer an incentive to select their approved lawyer for this reason, any increased charges can be avoided and a builder won't put forward a conveyancing factory and run the risk of having the transaction delayed when they demand an exchange within a tight time frame. A counter-argument for not opting for the suggested property lawyer is that they may prove reluctant to 'push' your interests at the risk of alienating the housebuilder. If you worry that this may be the situation you should keep with your high street Aylesbury conveyancer.