AssumingI was to buy a straightforward homein Buckinghamshire mortgage fee and dispense with a survey and no local authority searches how much could I expect to have to pay for conveyancing in Buckinghamshire?
Any savings you would achieve would be isolated to the disbursement for searches. A conveyancing practitioner still got to do everything else - money laundering, liaising with your sellers conveyancer, SDLT return, register the property etc. You might save a bit for them not needing to register a charge however it will not be a lot.
In what way does my ID and proof of funds have anything to do with my conveyancing in Buckinghamshire? Why is this being asked of me?
Buckinghamshire conveyancing solicitors as well as nationwide property practitioners throughout the UK have a duty under Anti-terror and anti-money-laundering rules to verify the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill less than 3 months old).
Confirmation of source of funds is also necessary under the money laundering statutes as conveyancers are mandated to investigate that the funds you are utilising to purchase a property (whether it be the deposit for exchange or the full purchase monies if you are a cash purchaser) has come from an acceptable source (such as an inheritance) as opposed to the proceeds of criminal behaviour.
Various online forums that I have frequented warn that are the number one cause of obstruction in Buckinghamshire conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays during the legal transfer of property. Local searches are not likely to feature in any delay in conveyancing in Buckinghamshire.
3 months have gone by since my purchase conveyancing in Buckinghamshire took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. 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 property 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.
Having had my offer accepted I require leasehold conveyancing in Buckinghamshire. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Buckinghamshire - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the registered owner of a ground floor flat in Buckinghamshire, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Buckinghamshire with a long lease are worth £227,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ceases on 21st October 2091
You have 72 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. Do 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. Neither should you move forward based on this information before seeking the advice of a professional.