I plan on purchasing an apartment in Gorleston. My Solicitor is not listed on the lender solicitor panel. Can I still retain my Gorleston conveyancing solicitor even though they are excluded from the lender approved list?
Your options include
- Proceed with your preferred Gorleston conveyancer but your bank will need to retain a conveyancer on their conveyancing panel. The net result is additional cost together with potential frustration.
- Get a new conveyancing practitioner to conduct the conveyancing, ensuring that they are on the lender conveyancing panel.
- Appeal to your conveyancer to attempt to join the mortgage company panel
What does my ID and proof of funds have anything to do with my conveyancing in Gorleston? Is this really necessary?
It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Gorleston. Nowadays you will not be able to complete any conveyancing transaction if you have not providing evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a bank statement. Remember if you are providing your driving licence as evidence of identification it needs to be both the paper part as well as the photo card part, one is not acceptable in the absence of the other.
Verification of the source of monies is mandated under Money Laundering Regulations. You should not be offended when when this is requested of you as your conveyancer must have this information on record. Your Gorleston conveyancing lawyer will need to see evidence of proof of funds before they are able to accept any funds from you into their client account and they should also ask further questions regarding the source of monies.
I am purchasing a semi-detached house in Gorleston. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Gorleston you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Gorleston.
My relative suggested that if I am purchasing in Gorleston I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Gorleston conveyancing searches. It is not a small report of about 40 pages, listing and setting out significant information about Gorleston around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Gorleston Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Gorleston Education with maps and statistics, Local Amenities and other useful data concerning Gorleston.
Over the last few months I have been searching for a flat up to £245,000 and identified one close by in Gorleston I like with a park and station nearby, however it only has 52 years unexpired on the lease. I can't really find anything else in Gorleston suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage the shortness of the lease may be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I own a leasehold flat in Gorleston. Conveyancing and Chelsea Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Gorleston who acted for me is not around. Do I pay?
First make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Gorleston conveyancing lawyer to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I acquired a 2 bed flat in Gorleston, 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? Comparable flats in Gorleston with an extended lease are worth £185,000. The ground rent is £65 invoiced every year. The lease runs out on 21st October 2085
With just 60 years remaining on your lease we estimate the price of your lease extension to span between £20,000 and £23,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.