What does my ID and proof of funds have anything to do with my conveyancing in Bicester? What am I being asked for?
In order to comply with Money Laundering Regulations any Bicester 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 account evidencing where you reside.
In accordance with Money Laundering Regulations, property lawyers are obliged by law to check not just the ID of conveyancing clients but also the source of fund that they receive in respect of any matter. An unwillingness to disclose this may lead to your lawyer cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to inform the appropriate authorities should they believe that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
What is the difference between a licensed conveyancer and conveyancing solicitor in Bicester
Two types of professional can conduct conveyancing in Bicester namely CLC regulated conveyancers or solicitors. Both professionals provide conveyancing services that required to complete the disposal or acquisition of property. Both are duty bound to conduct Bicester conveyancing to the same quality and guidelines so you may be safe in the knowledge that your conveyancing will be properly conducted and that all necessary procedures will be correctly attended to.
My wife and I purchasing a detached bungalow in Bicester. Our aim is to carry out a loft conversion at the house.Will the conveyancing process involve investigations to ascertain if these works were previously refused?
Your conveyancer will review the registered title as conveyancing in Bicester will occasionally identify restrictions in the title documents which restrict certain alterations or necessitated the consent of a 3rd party. Certain extensions require local authority planning consent and approval under the building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be prudent to check these things with a surveyor ahead of any purchase.
I recently had an offer agreed on an apartment in Bicester. My financial adviser pressured me to appoint their lawyer. I paid an upfront payment of £175. A few days later, the solicitor called me to say that they were not on the Yorkshire BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Yorkshire BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
It has been 2 months following my purchase conveyancing in Bicester completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. 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 have been on the look out for a ground for flat up to £235,500 and found one near me in Bicester I like with amenity areas and station nearby, however it only has 51 years on the lease. There is not much else in Bicester suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you require a mortgage the shortness of the lease may be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
I need to appoint a conveyancing solicitor for freehold conveyancing in Bicester. I've chance upon a site which seems to have the ideal solution If there is a chance to get all this stuff done via phone that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Last December I purchased a leasehold house in Bicester. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation 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. 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).
Leasehold Conveyancing in Bicester - Examples of Queries before buying
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Where a Bicester lease has no more than eighty years it will have adverse implications on the value of the property. It is worth checking with your bank that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and it is worth discovering what this will be. For most Bicesterlease extensions you would be be obliged to have owned the premises for two years in order to be legally able to extend the lease. Is anyone aware of any major works anticipated that will likely add a premium to the maintenance costs? What restrictions are contained in the Bicester Lease?