In what way does my ID and proof of funds have anything to do with my conveyancing in Drybrook? What am I being asked for?
To satisfy the Money Laundering Regulations any Drybrook conveyancing firm will require proof of identity in all conveyancing matters. This is usually satisfied by provision of a passport and an original bank statement or utility account showing your correct address.
Under Money Laundering Regulations, conveyancing solicitors are duty bound to check not simply the identity 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 conveyancer ending their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to make a disclosure to the relevant authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Does this mean I have to use their panel lawyer as I would much rather appoint a high street conveyancing solicitor in Drybrook?
Do check but the the probability is that appoint one of their panel solicitors if you take up the "fee-free" deal. Call the bank to ask if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor near Drybrook.
What will a local search reveal about the house my wife and I buying in Drybrook?
Drybrook conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company for example Onsearch The local search plays an important role in most Drybrook conveyancing purchase; that is if you don’t want any nasty once you have moved into your property. The search should supply data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Drybrook is where the house is located. Can you shed any light on this issue?
Flying freeholds in Drybrook are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Drybrook you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Drybrook 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.
I only have 68 years left on my flat in Drybrook. I am keen to extend my lease but my landlord is missing. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to find the freeholder. On the whole a specialist would be helpful to conduct investigations and prepare an expert document which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Drybrook.
I invested in buying a studio flat in Drybrook, conveyancing was carried out in 1999. Can you work out an approximate cost of a lease extension? Corresponding properties in Drybrook with a long lease are worth £191,000. The ground rent is £55 levied per year. The lease ends on 21st October 2078
With just 53 years unexpired we estimate the price of your lease extension to span between £27,600 and £31,800 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
My fiance and I are hoping to buy a four room ground floor flatin Drybrook with a home loan from a bank. We like our conveyancer in Drybrook however our mortgage company inform us now that he's not listed on their "panel". It seems we have little choice but to instruct from the our bank panel firms or stay with our Drybrook solicitor and incur the extra fees for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The bank home loan issued is subject to conditions, one of which will be that solicitors will on the mortgage company's conveyancing panel. Until recently, most lenders had open panels, including almost all conveyancing solicitors in Drybrook : a mortgagee could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for your mortgage company.