Much to our surprise we have been informed by our mortgage adviser that my Highnam the law firm I have appointed is not on the lender Solicitor panel. How can I check?
Your first step should be to call your Highnam conveyancer. You lawyer should inform you of the situation. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
What does my ID and proof of funds have anything to do with my conveyancing in Highnam? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Highnam conveyancing firm will require evidence of your identity in all conveyancing transactions. This is usually satisfied by provision of a passport and an original bank statement or utility account evidencing where you live.
In accordance with Money Laundering Regulations, conveyancers are duty bound to check not only the identity of conveyancing clients but also the source of the money that they receive in respect of any matter. An unwillingness to disclose this will result in your lawyer ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to notify the relevant authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
Due to the input of my in-laws I had a survey completed on a house in Highnam before instructing lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor advised that some lenders will not issue a mortgage on this type of premises.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. If you call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Highnam. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Highnam to see if the conveyancing costs will increase in light of this.
I need to appoint a conveyancing solicitor for leasehold conveyancing in Highnam. I happened to land on a site which appears to be the perfect offering If there is a chance to get all this stuff completed via phone that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Having checked my lease I have discovered that there are only 68 years unexpired on my flat in Highnam. I now want to extend my lease but my landlord is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you have done all that could be expected to track down the landlord. On the whole an enquiry agent may be useful to conduct investigations and prepare a report which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Highnam.
I own a split level flat in Highnam, conveyancing having been completed in 2012. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Highnam with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease expires on 21st October 2078
With 54 years left to run we estimate the premium for your lease extension to span between £32,300 and £37,400 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.