In what way does my ID and proof of funds have anything to do with my conveyancing in Llangollen? Is this really warranted?
It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Llangollen. Nowadays you will not be able to proceed with any conveyancing transaction in the absence submitting evidence of your identity. This usually takes the form of a either your passport or driving licence and a bank statement. Please note that if you are supplying your driving licence as proof of identification it must be both the paper element and photo card part, one is not sufficient in the absence of the other.
Proof of the source of monies is necessary under Money Laundering Regulations. Please do not be offended when you are asked to produce this as your conveyancer must have this information on record. Your Llangollen conveyancing solicitor will need to see evidence of proof of funds before they are able to accept any monies from you into their client account and they should also ask additional questions regarding the origin of monies.
Various internet forums that I have come across warn that are the primary cause of delay in Llangollen conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances in the conveyancing process. Searches are not likely to be the root cause of slowing down conveyancing in Llangollen.
What does commercial conveyancing in Llangollen cover?
Commercial conveyancing in Llangollen covers a broad array of advice, offered by regulated solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
Do you have any top tips for leasehold conveyancing in Llangollen from the point of view of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Llangollen can be bypassed where you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers. In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Llangollen state that internal structural alterations or addition of wooden flooring require a licence from the Landlord acquiescing to such alterations. Where you dont have the consents in place you should not contact the landlord without contacting your lawyer before hand. A minority of Llangollen leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors. You may think that you are aware of the number of years left on your lease but you should double-check via your lawyers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. It is therefore essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
I am the registered owner of a 2 bed flat in Llangollen, conveyancing having been completed 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Llangollen with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ceases on 21st October 2088
With only 67 years unexpired the likely cost is going to span between £10,500 and £12,000 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
What do I do if I am dissatisfied with the property lawyer who conducted our conveyancing in Llangollen?
Occasionally the level of service you receive is not as you expect, and unfortunately sometimes things do go wrong. That being said there is recourse if you were unhappy with your conveyancing in Llangollen. This varies from trying to resolve matters directly with them, through to reporting a solicitor to their regulator. If things still aren’t resolved you may consider enlisting the help of the Legal Ombudsman.