My wife and I are about to complete buying a house in Mevagissey but as a result of damage from the recent storms I have was able negotiate compensation from the current proprietors of £2k taking the form of a deduction in the price. I had intended this to be addressed as part of amending the contract however Virgin Money will not agree to this. Why were they informed?
Your property lawyer being on a Virgin Money conveyancing panel is duty bound to disclose to Virgin Money of any amendments to the purchase price. If you were to refuse your property lawyer to disclose the price change to Virgin Money then they would have to discontinue acting for you. In addition, Virgin Money and you would have to appoint a new solicitor for your conveyancing in Mevagissey.
What does my ID and proof of funds have anything to do with my conveyancing in Mevagissey? Why is this being asked of me?
Mevagissey conveyancing solicitors as well as nationwide property practitioners accross the UK have an obligation under Anti-terror and anti-money-laundering rules to check the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified identification; proof of ID (usually a Passport or Driving Licence) and proof of address (typically a Utility Bill less than 3 months old).
Evidence of the origin of funds is also required in accordance with the money laundering statutes as solicitors are duty bound to investigate that the monies you are utilising to buy a property (whether it be the deposit for exchange or the total purchase monies if you are buying without a mortgage) has originated from a reputable source (such as employment savings) rather than the product of criminal behaviour.
I am considering applying for a Nationwide mortgage for purchase of a newly converted (under development) in Mevagissey with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Nationwide ?
There is nothing to stop you using your solicitor, but Nationwide will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
What is the difference between a licensed conveyancer and conveyancing solicitor in Mevagissey
There are many recorded licenced Conveyancers in Mevagissey and Solicitor partnerships in Mevagissey to choose from We would stress that both are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. They may both also conduct other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
This question may be naive but I am new to the process as FTB of a ground floor flat in Mevagissey. Do I collect the keys to the house on the completion date from my conveyancer? If so, I will instruct a High Street conveyancing solicitor in Mevagissey?
On the day of completion you will not be required to attend the conveyancers office in Mevagissey. Conveyancing lawyers for you will transfer the completion advance to the seller's solicitors, and shortly after the monies have arrived, you will be able to collect the keys from the Estate Agents and start moving into the property. Usually this occurs early afternoon.
Completion of my remortgage has taken place for my property in Mevagissey. Conveyancing was satisfactory but I would like to complain about the lender. How do I make a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I would like to let out my leasehold flat in Mevagissey. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Notwithstanding that your last Mevagissey conveyancing lawyer is not around you can check your lease to see if it allows you to sublet the property. The rule is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek permission from your landlord or some other party prior to subletting. The net result is you not allowed to sublet without first obtaining permission. Such consent should not be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord for their consent.
I am the registered owner of a ground floor flat in Mevagissey, conveyancing was carried out in 1998. Can you work out an approximate cost of a lease extension? Comparable flats in Mevagissey with an extended lease are worth £260,000. The ground rent is £50 invoiced every year. The lease finishes on 21st October 2096
With 75 years left to run the likely cost is going to range between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously 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.