In what way does my ID and proof of funds have anything to do with my conveyancing in Bodmin? Why is this being asked of me?
It is indeed that case that these requests have nothing to do with conveyancing in Bodmin. However these days you will not be able to complete any conveyancing transaction if you have not handing over proof of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a utility bill. Please note that if you are providing your driving licence as proof of identification it must be both the paper element as well as the photo card part, one is not acceptable without the other.
Evidence of the source of money is necessary under Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancing solicitor will need to have this information on record. Your Bodmin conveyancing practitioner will need to see evidence of proof of funds prior to accepting any monies from you into their client account and they may also ask additional questions concerning the origin of monies.
Can you help - my lawyer says that missing deeds insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Bodmin?
The right level of missing deeds indemnity insurance should be dictated by who your lender. It would differ for example between Barclays and Virgin Money. Conveyancing lawyers as opposed to members of the public take out such policies.
Intending to buy a house in Bodmin. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Bodmin conveyancing practitioner is on the Virgin Money conveyancing panel.
At last I have had an offer on an apartment in Bodmin accepted, but there is a chain. The owners have placed an offer on on an apartment, but it’s not yet agreed to, and are looking at other properties booked. I have chosen a local conveyancing solicitor in Bodmin. What do I do now? When should I get the mortgage application with Nottingham going?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of one thousand pounds, then valuation, Bodmin conveyancing search costs, etc). First, you must ensure that your lawyer is on the Nottingham conveyancing panel. Regarding the subsequent phase this very much dictated by the uniqueness of your transaction, motivation for this property and on the state of the market. In a rising market some buyers will apply for a home loan with Nottingham and arrange for the valuation and only if it was satisfactory would they request their conveyancer to move forward with the conveyancing in Bodmin.
A relative recommended that where I am purchasing in Bodmin I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Bodmin conveyancing searches. It is not a small document of about 40 pages, listing and setting out significant information about Bodmin around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Bodmin Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Bodmin Education with maps and statistics, Local Amenities and other useful data regarding Bodmin.
four months have elapsed since my purchase conveyancing in Bodmin took place. I have checked the Land Registry site which shows that I paid £150,000 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 asset 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.
My husband and I are first time buyers - agreed a price, yet the estate agent has warned us that the owners will only issue a contract if we appoint the agent's preferred lawyers as they want an ‘expedited deal’. My instinct tells me that we should use a high street solicitor with experience of conveyancing in Bodmin
It is highly unlikely the owners are driving this. If they want ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Speak to the owners direct and make the point that (a)you are serious purchasers (b)you are ready to progress, with finances in place © you are unencumbered (d) you intend to proceed fast (e)but you will continue to use your own,trusted Bodmin conveyancing lawyers - rather thanthe ones that will earn their negotiator at the agency a referral fee or achieve conveyancing figures set by corporate headquarters.
Can you provide any advice for leasehold conveyancing in Bodmin from the perspective of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Bodmin can be bypassed where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ representatives. The majority of freeholders or Management Companies in Bodmin levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Bodmin. In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Bodmin state that internal structural changes or addition of wooden flooring require a licence from the Landlord consenting to such alterations. If you fail to have the consents in place do not communicate with the landlord without checking with your lawyer in advance. If you have had conflict with your landlord or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as historic as opposed to ongoing.
I acquired a 1 bedroom flat in Bodmin, conveyancing having been completed March 2011. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Bodmin with over 90 years remaining are worth £192,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease runs out on 21st October 2079
With just 54 years unexpired the likely cost is going to be between £32,300 and £37,400 as well as 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 cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.