In what way does my ID and proof of funds have anything to do with my conveyancing in Fareham? What am I being asked for?
To satisfy the Money Laundering Regulations any Fareham conveyancing firm will require proof of identity in all conveyancing transactions. This is usually dealt with by provision of a passport and an original bank statement or utility account showing your correct address.
In accordance with Money Laundering Regulations, conveyancers are obliged by law to validate not only the ID of conveyancing clients but also the origin of the money that they receive in respect of any matter. An unwillingness to disclose this will result in your solicitor ending their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to inform the appropriate authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
Should commercial conveyancing searches disclose planned roadworks that may affect a commercial premises in Fareham?
Its becoming the norm that commercial conveyancing solicitors in Fareham will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Fareham. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Fareham.
For every commercial conveyancing transaction in Fareham it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could result in delays to Fareham commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Fareham.
I got the keys to my house on 13 July and my personal details is not yet registered. Should I be concerned? My conveyancing solicitor in Fareham advises it will be concluded in less than a month. Are properties in Fareham uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Fareham registration formalities. As opposed to being determined by geographic area, timescales can differ according to the party submitting the application, whether there are errors and if the Land registry communicate with any third parties. As of today in the region of three quarters of such applications are fully addressed within two weeks but occasionally there can be longer hold-ups. Registration is effected once the buyer is living at the premises therefore 'speed' is not typically an essential issue yet if it is urgent that the the registration takes place urgently then you or your lawyers can communicate with the Registry to express the reasoning for the application to be prioritised.
About to purchase a new build apartment in Fareham. Conveyancing is a frightening process 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 are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Fareham
-
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. 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. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. 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.
Having checked my lease I have discovered that there are only 72 years unexpired on my lease in Fareham. I am keen to extend my lease but my freeholder is missing. What should I do?
On the basis that 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 extended by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to track down the landlord. For most situations a specialist would be useful to conduct investigations and prepare an expert document to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s absence and the application to the County Court covering Fareham.
I own a 2 bed flat in Fareham, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Fareham with over 90 years remaining are worth £260,000. The ground rent is £45 per annum. The lease runs out on 21st October 2100
With 75 years remaining on your lease the likely cost is going to span between £8,600 and £9,800 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of 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 take any other action placing reliance on this information without first seeking the advice of a professional.
What is the reason for new build conveyancing in Fareham being more expensive?
Buying a new build property is completely distinct from the normal house buying conveyancing in Fareham. For a start sellers ordinarily need contracts to exchange inside a short timeframe, so there is a a great deal of pressure on your property lawyer to ensure everything is in order. In addition new build premises often involve the checking of adoption of highways, drains, planning considerations, building warranties or architects certificates. Lenders obligations are also more detailed. Taking into account the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.