In what way does my ID and proof of funds have anything to do with my conveyancing in Bow Street? Why is this being asked of me?
It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Bow Street. However these days you will not be able to proceed with any conveyancing deal in the absence providing evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence and a council tax bill. Remember if you are providing your driving licence as proof of ID it must be both the paper section and photo card part, one is not acceptable in the absence of the other.
Evidence of your origin of money is mandated in accordance with the Money Laundering Regulations. You should not be offended when when this is requested of you as your conveyancer will need to have this information on file. Your Bow Street 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 should also ask further questions concerning the source of monies.
I am considering refinancing my house in Bow Street, does my lawyer need to be on the Co-operative Conveyancing panel?
In theory, you could use a solicitor that is not on the Co-operative conveyancing panel, but Co-operative would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Forgive me if this question is silly but I am unseasoned as FTB of a garden flat in Bow Street. Do I pick up the keys to the premises on completion from my lawyer? If this is the case, I will use a local conveyancing solicitor in Bow Street?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the purchase money to the owner’s conveyancers, and once they have received this, you will be invited to collect the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
Completion of my purchase has taken place for my property in Bow Street. Conveyancing was a necessary evil but I would like to complain about the lender. How does one go about formally complaining?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Bow Street solicitor - who is on the Bank of Ireland conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Bow Street surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
My wife and I are planning on selling our home in Bow Street and according to the buyers it appears that there is a possibility that the property was built on contaminated land. A local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers instructed a national conveyancing firm as opposed to a conveyancing solicitor in Bow Street. We have lived in Bow Street for 4 years we know that this is a non issue. Do we get in touch with our local Authority to obtain clarification that there is no issue.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
Due to the advice of my in-laws I had a survey completed on a house in Bow Street prior to instructing conveyancers. I have been told that there is a flying freehold element to the property. The surveyor has said that some lenders may refuse to grant a mortgage on this type of property.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. If you contact us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Bow Street. Conveyancing will be smoother if you use a solicitor in Bow Street especially if they are acquainted with such properties in Bow Street.
I am intending to sublet my leasehold apartment in Bow Street. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Even though your previous Bow Street conveyancing solicitor is not available you can review your lease to check if you are permitted to let out the property. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you need to seek consent from your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet without first obtaining consent. Such consent must not not be unreasonably refused ore delayed. If the lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.
I invested in buying a garden flat in Bow Street, conveyancing having been completed November 1997. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Bow Street with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease runs out on 21st October 2089
With 63 years left to run the likely cost is going to range between £16,200 and £18,600 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. 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 take any other action placing reliance on this information before seeking the advice of a professional.