In what way does my ID and proof of funds have anything to do with my conveyancing in Aylestone? What am I being asked for?
In order to comply with Money Laundering Regulations any Aylestone conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility account evidencing where you live.
In accordance with Money Laundering Regulations, conveyancing solicitors are duty bound to ascertain not only the ID of conveyancing clients but also the source of monies that they receive in respect of any matter. Refusal to disclose this may lead to your lawyer 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 appropriate authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
My aunt passed away last year and as sole heir and executor I was left the house in Aylestone. The house had a small mortgage left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Clydesdale, pay off the mortgage. Is this possible?
Where you plan to refinance then Clydesdale will require that you use a conveyancer on the Clydesdale conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Clydesdale conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Clydesdale mortgage is registered as a charge at the Land Registry.
The estate agent has sent us the confirmation of our purchase of a new build flat in Aylestone. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Aylestone
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Please confirm the Lease plans are architect prepared. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I am looking for a flat up to £195,000 and found one round the corner in Aylestone I like with open areas and railway links in the vicinity, however it's only got 61 years unexpired on the lease. There is not much else in Aylestone for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan the shortness of the lease will likely be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you may request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
I am thinking of appointing a conveyancing solicitor in Aylestone for my home move. Is there any facility to check a firm’s record with the legal regulator?
Anyone can find documented Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Visit Check a solicitor's record. For information about the period before 1 January 2008, or to check a solicitors history, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The regulator could recorded telephone calls for training reasons.
I've recently bought a leasehold property in Aylestone. Do I have any liability for service charges for periods before completion of my purchase?
In a situation 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 ensure 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 own a 1st floor flat in Aylestone, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Equivalent flats in Aylestone with over 90 years remaining are worth £185,000. The ground rent is £65 invoiced annually. The lease ends on 21st October 2084
With only 59 years unexpired the likely cost is going to range between £20,900 and £24,200 plus costs.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.