The mortgage agreement from NatWest for the remortgage of my 2 bedroom flat is to be issued by the end of next week. Are you able to suggest a cheap conveyancing solicitor in Burford?
This site is not designed to aid those in their quest for the lowest fares for conveyancing in Burford. Our aim is to provide cost effective conveyancing but we do not work with the cheapest lawyers. Do not be fooled by companies teasing you with £100 conveyancing in Burford. The optimum result, in choosing a lawyer for low cost conveyancing, you will end up with what you pay for and at worst it will result in you being stung for extras and still not get the service expected.
In what way does my ID and proof of funds have anything to do with my conveyancing in Burford? What am I being asked for?
It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Burford. However these days you can not complete any conveyancing deal without first handing over evidence of your identity. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of identification it needs to be both the paper part as well as the photo card part, one is not sufficient without the other.
Proof of the origin of money is mandated under Money Laundering Regulations. You should not be offended when you are asked to produce this as your conveyancing solicitor must retain this information on record. Your Burford conveyancing lawyer will need to see evidence of proof of funds prior to accepting any monies from you into their client account and they may also ask additional questions regarding the source of monies.
3 months have elapsed since my purchase conveyancing in Burford concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. 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 premises 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.
Last October I purchased a leasehold house in Burford. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a leasehold flat in Burford, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Comparable properties in Burford with a long lease are worth £216,000. The ground rent is £50 charged once a year. The lease expires on 21st October 2096
With 70 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.
When it comes to my conveyancing in Burford should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Burford conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the solicitor's time in submitting the funds this way.