What does my ID and proof of funds have anything to do with my conveyancing in Mancot? What am I being asked for?
To satisfy the Money Laundering Regulations any Mancot conveyancing firm will require proof of identity in all conveyancing matters. 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, conveyancing solicitors are required to validate not simply the ID of conveyancing clients but also the source of monies that they receive in respect of any matter. An unwillingness to disclose this will result in your solicitor ending their retainer 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 make a disclosure to the relevant authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
Are there restrictive covenants that are commonly picked up during conveyancing in Mancot?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Mancot. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Just had an offer accepted on a new build flat in Mancot. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Mancot
Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants.
I need to instruct a conveyancing solicitor for sale conveyancing in Mancot. I've land on a site which appears to be the ideal answer If there is a chance to get all this stuff completed via email that would be preferable. Do I need to 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?
I am tempted by the attractive purchase price for a couple of maisonettes in Mancot both have approximately forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a period of time. As the lease shortens the value of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena.
I own a garden flat in Mancot, conveyancing formalities finalised 10 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Mancot with an extended lease are worth £211,000. The ground rent is £50 invoiced every year. The lease ends on 21st October 2087
With 68 years unexpired we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.