My fiancee and I are acquiring our first house. Our lawyer has calledto enquire if we want to order additional conveyancing searches. As novices we have no idea as to what's necessary for conveyancing in Hayling Island
The type of Hayling Island conveyancing searches should be triggered based entirely on the premises, the location, the probability of any of these risks, your familiarity of the region and risks, your overall attitude to risk. What matters is that you adequately comprehend what information each search could provide. You may then make a decision if you personally think you need that information. Where you are uncertain, ask the conveyancing practitioner to provide guidance.
What does my ID and proof of funds have anything to do with my conveyancing in Hayling Island? Is this really warranted?
You are right in these requests have nothing to do with conveyancing in Hayling Island. However these days you will not be able to complete any conveyancing transaction without first submitting evidence of your identity. This usually takes the form of a either your passport or driving licence and a council tax bill. Please note that if you are providing your driving licence as evidence of ID it must be both the paper section and photo card part, one is not sufficient without the other.
Evidence of your origin of money is required under Money Laundering Regulations. You should not be offended when when this is requested of you as your conveyancing solicitor must have this information on record. Your Hayling Island conveyancing lawyer 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 may also ask further questions regarding the source of monies.
My stepmother advised me that in buying a property in Hayling Island there could be various restrictions limiting what one can do in terms of external alterations to the property. Is this right?
We are aware of a number of properties in Hayling Island which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Hayling Island should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Hayling Island building society branch on numerous occasions and was informed it wasn't a problem and they will lend. My Hayling Island conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they would not lend in accordance with their specific requirements. I have no idea who is right.
Your lawyer must follow the Council of Mortgage Lenders’ Handbook section two conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am selling my apartment. I had a double glazing fitted in February 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Yorkshire BS are being problematic. The Hayling Island solicitor who is on the Yorkshire BS conveyancing panel is saying indemnity insurance will be fine but Yorkshire BS are insisting on a building regulation certificate. Why do Yorkshire BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Yorkshire BS have referred the matter to their valuer. The reason why Yorkshire BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Various internet forums that I have visited warn that are a common cause of hinderance in Hayling Island conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of delay in conveyancing in Hayling Island.
I purchased a semi-detached Edwardian property in Hayling Island. Conveyancing solicitor acted for me and Godiva Mortgages Ltd. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold under the exact same property. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hayling Island and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with the conveyancing lawyer who completed the work.
I am looking for a leasehold apartment up to £245,000 and found one near me in Hayling Island I like with open areas and transport links nearby, however it only has 52 years unexpired on the lease. I can't really find anything else in Hayling Island suitable, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the remaining unexpired lease term may be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this.