In what way does my ID and proof of funds have anything to do with my conveyancing in Tintagel? What am I being asked for?
To satisfy the Money Laundering Regulations any Tintagel conveyancing firm will require proof of identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility bill evidencing your correct address.
Under Money Laundering Regulations, property lawyers are duty bound to check not only the identity of conveyancing clients but also the origin of monies that they receive in respect of any matter. Refusal to disclose this may lead to your solicitor ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to make a disclosure to the relevant authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
Are there restrictive covenants that are commonly identified as part of conveyancing in Tintagel?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Tintagel. 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…’
What does commercial conveyancing in Tintagel cover?
Commercial conveyancing in Tintagel incorporates a wide range of guidance, given by qualified solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, 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 mortgages and the termination of tenancies.
Can you provide any advice for leasehold conveyancing in Tintagel with the intention of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Tintagel can be reduced where you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers’ solicitors. If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Tintagel state that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord approving such alterations. If you fail to have the paperwork in place do not communicate with the landlord without checking with your lawyer in advance. If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unresolved. Some Tintagel leases require Licence to Assign from the landlord. 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. Any 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 purchasers or their solicitors. You believe that you know the number of years remaining on your lease but you should double-check by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is under 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.
I acquired a studio flat in Tintagel, conveyancing was carried out in 2001. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Tintagel with a long lease are worth £185,000. The ground rent is £65 invoiced every year. The lease runs out on 21st October 2081
With just 60 years left to run we estimate the price of your lease extension to span between £20,000 and £23,000 as well as costs.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
What is the difference between surveying and conveyancing in Tintagel?
Conveyancing - in Tintagel or elsewhere - is the legal term given to transferring legal title of property from one person to another. It therefore includes the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you’re buying and will help you find out about the condition of the building and, if there are problems, give you leverage for reducing the price down or asking the vendor to remedy the defects before you move in.