In what way does my ID and proof of funds have anything to do with my conveyancing in Frome? Is this really warranted?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to check the ID of the person or body they are dealing with prior to agreeing to accepting their conveyancing business. The Client Care letter that you need to sign will no doubt stipulate this. Your lender will also require certain documents to be viewed. Where you are unwilling to hand over identification documents, your conveyancer can not take you on as a client.
What can a local search tell me concerning the property I am buying in Frome?
Frome conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search company for instance Onsearch The local search is essential in every Frome conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your new home. The search should supply data on, amongst other things, details on planning applications relevant to the property (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 13 topic areas.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one near me in Frome I like with amenity areas and station nearby, the downside is that it only has 52 years on the lease. I can't really find anything else in Frome for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
In my capacity as executor for the estate of my grandmother I am disposing of a residence in Swansea but reside in Frome. My lawyer (approximately 300 kilometers from merequires that I execute a stat dec before the transaction finalising. Can you recommend a conveyancing lawyer in Frome to attest and place their company stamp on the document?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are based in Frome
I only have Sixty One years remaining on my flat in Frome. I now wish to get lease extension but my freeholder is can not be found. What are my options?
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 granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to locate the freeholder. In some cases a specialist should 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 advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the application to the County Court covering Frome.
I acquired a split level flat in Frome, conveyancing was carried out May 2007. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Frome with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease finishes on 21st October 2100
You have 74 years unexpired we estimate the price of your lease extension to be between £8,600 and £9,800 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.
Being a leasehold owner I am on the hook for a service charge for my first floor flat in Frome. Due to losing my job and other issues I fell behind with payments. I negotiated a settlement plan but there is still three thousand pounds outstanding at the current time.
I now wish to sell and I am concerned this could threaten to derail the sale if I have to settle the amount due in advance. Do I have to settle before - is this possible?
You should clarify with the property lawyer carrying out your Frome conveyancing but it may be possible to arrange for the outstanding amount to be attributed to the buyers. The contractual price they pay would be reduced to reflect the amount of debt they assume. They could then pay the fees after completion of the sale.