My Axminster lawyer has spotted a difference between the surveyor’s assumptions in the home valuation report and what is revealed within the legal papers for the property. My lawyer says that he needs to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my lawyer’s stance right?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
What does my ID and proof of funds have anything to do with my conveyancing in Axminster? What am I being asked for?
It is indeed that case that these requests have nothing to do with conveyancing in Axminster. Nowadays you can not complete any conveyancing transaction if you have not submitting evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a council tax bill. Please note that if you are providing your driving licence as evidence of identification it must be both the paper element as well as the photo card part, one is not acceptable without the other.
Verification of the origin of monies is required in accordance with the Money Laundering Regulations. Please do not be offended when you are asked to produce this as your conveyancing solicitor must retain this information on file. Your Axminster conveyancing practitioner 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 will also ask further questions concerning the source of monies.
I am planning to acquire a house and require a conveyancing solicitor in Axminster who is on the Clydesdale approved. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Clydesdale in certain locations such as Axminster. We dont recommend any particular firm.
I have been told that property searches are the number one reason for stalling in Axminster house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays in the conveyancing process. Searches are not likely to feature in any slowing down conveyancing in Axminster.
I have been sourcing a conveyancing solicitor in Axminster for my home move. Is it possible to review a solicitor's record with the legal regulator?
One can read published Solicitor Regulator Association (SRA) determinations resulting from inquisitions commenced on or after Jan 2008. Go to Check a solicitor's record. To find details about the period before 1 January 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The SRA may monitor call for training purposes.
I've recently bought a leasehold house in Axminster. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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 invested in buying a basement flat in Axminster, conveyancing formalities finalised 4 years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Axminster with an extended lease are worth £265,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ends on 21st October 2102
With only 76 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues 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.