In what way does my ID and proof of funds have anything to do with my conveyancing in Banbury? Is this really necessary?
It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Banbury. Nowadays you can not complete any conveyancing deal in the absence supplying evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a council tax bill. Remember if you are supplying your driving licence as evidence of ID it needs to be both the paper element as well as the photo card part, one is not sufficient without the other.
Proof of your source of monies is required in accordance with the Money Laundering Regulations. Please do not be offended when you are asked to produce this as your lawyer will need to have this information on record. Your Banbury conveyancing lawyer will require evidence of proof of funds prior to accepting any funds from you into their client account and they may also ask additional questions concerning the source of monies.
How does conveyancing in Banbury differ for newly converted properties?
Most buyers of new build residence in Banbury come to us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is completed. This is because house builders in Banbury typically acquire 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 conveyancers 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 Banbury or who has acted in the same development.
I opted to have a survey completed on a property in Banbury prior to retaining conveyancers. I have been told that there is a flying freehold aspect to the property. The surveyor advised that some lenders will not issue a mortgage on a flying freehold house.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Banbury. Conveyancing may be slightly more expensive based on your lender's requirements.
My partner has suggested that I instruct his conveyancers in Banbury. Do I follow his recommendation?
Much as we are happy to recommend a Banbury conveyancing lawyer the ideal way to select a conveyancing lawyer is to seek recommendations from friends or relatives who have previously instructed the firm you're considering.
Being a leasehold owner I am liable for a service charge for my flat in Banbury. As a result of personal circumstances I fell behind with payments. The managing agents agreed a settlement plan but there remains around £2000 left to be paid.
I now wish to dispose of the property and I am worried this could jeopardize the sale if I have to pay off the amount due now. Do I have to settle before - is this possible?
You should clarify with the conveyancing practitioner conducting your Banbury conveyancing but one option could be to agree for the debt to be attributed to the purchasers. The contractual price they pay would be reduced to reflect the amount of debt they take on. They would then discharge the fees once they are the owners.