What does my ID and proof of funds have anything to do with my conveyancing in Axminster? Is this really necessary?
You are right in the requirement set out by your lawyer has nothing to do with conveyancing in Axminster. Nowadays you will not be able to complete any conveyancing process in the absence handing over evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence and a bank statement. Remember if you are supplying your driving licence as evidence of ID it needs to be both the paper element and photo card part, one is not satisfactory in the absence of the other.
Evidence of the source of money is required in accordance with the Money Laundering Regulations. You should not be offended when when this is requested of you as your conveyancing solicitor must retain this information on file. Your Axminster conveyancing solicitor will require evidence of proof of funds prior to accepting any funds from you into their client account and they may also ask further questions regarding the origin of monies.
Do commercial conveyancing searches disclose proposed roadworks that could affect a commercial site in Axminster?
Many commercial conveyancing solicitors in Axminster will carry out a SiteSolutions Highways report as it reduces the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Axminster. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Axminster.
For each commercial conveyancing transaction in Axminster it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may cause delays to Axminster commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Axminster.
three months have gone by since my purchase conveyancing in Axminster completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing a new build house in Axminster with a loan from The Royal Bank of Scotland. The developers would not reduce the price so I negotiated 6k of additionals instead. The property agent suggested that I not to tell my solicitor about this extras as it will affect my loan with The Royal Bank of Scotland. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Axminster is where the house is located. Is there any advice you can give?
Flying freeholds in Axminster are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Axminster you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Axminster may determine 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 property.
If all goes to plan we aim to complete the sale of our £150,000 garden flat in Axminster on Friday in a week. The landlords agents has quoted £420 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Axminster?
Axminster conveyancing on leasehold apartments normally involves administration charges levied by management companies :
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Answering pre-contract enquiries
Where consent is required before sale in Axminster
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I own a 2 bed flat in Axminster, conveyancing formalities finalised 6 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Axminster with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease terminates on 21st October 2106
With only 80 years left to run we estimate the price of your lease extension to span between £7,600 and £8,800 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.