What does my ID and proof of funds have anything to do with my conveyancing in Warfield? What am I being asked for?
It is indeed that case that these requests have nothing to do with conveyancing in Warfield. However these days you can not proceed with any conveyancing process without first providing proof of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a utility bill. Remember if you are providing your driving licence as proof of identification it needs to be both the paper section and photo card part, one is not satisfactory in the absence of the other.
Proof of the source of monies is necessary in accordance with the Money Laundering Regulations. Don’t be offended when when this is requested of you as your lawyer will need to have this information on file. Your Warfield conveyancing solicitor will need to see evidence of proof of funds prior to accepting any money from you into their client account and they may also ask additional queries concerning the origin of monies.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Warfield is the location of the property. Can you shed any light on this issue?
Flying freeholds in Warfield are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Warfield you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Warfield may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Is it simple use the search tool to find a conveyancing lawyer in Warfield on the approved list for my lender?
Step one is to choose a mortgage company such as Yorkshire Building Society, Chelsea Building Society or Bank of Ireland then specify your preferred area for instance Warfield. Conveyancing organisations in Warfield and across England and Wales will then be listed.
I need to instruct a conveyancing solicitor in Warfield for my house move. Is it possible to review a firm’s record with the profession’s regulator?
Members of the public may see documented Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Go to Check a solicitor's record. For records Pre 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The SRA may recorded telephone calls for training reasons.
I've recently bought a leasehold house in Warfield. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a 1 bedroom flat in Warfield, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Warfield with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease expires on 21st October 2088
You have 66 years remaining on your lease we estimate the premium for your lease extension to span between £11,400 and £13,200 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.