What does my ID and proof of funds have anything to do with my conveyancing in Heckington? Why is this being asked of me?
Heckington conveyancing solicitors as well as nationwide property practitioners throughout the UK have a duty under money laundering regulations to verify the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill less than 3 months old).
Proof of source of funds is also required under the money laundering statutes as lawyers are required to check that the monies you are using to acquire a property (whether it be the deposit for exchange or the full purchase amount where you are buying without a mortgage) has come from a reputable source (such as an inheritance) rather than the fruits of illegitimate activity.
My wife and I are downsizing from our home in Heckington and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. Any high street Heckington lawyer would know that there is no such problem. For the life of me I don't know why the purchasers used a national conveyancing firm as opposed to a conveyancing solicitor in Heckington. We have lived in Heckington for 5 years we know of no issue. Do we get in touch with our local Authority to seek clarification that there is no issue.
It sounds as though you may have a conveyancing firm already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
How does conveyancing in Heckington differ for new build properties?
Most buyers of new build residence in Heckington come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Heckington typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Heckington or who has acted in the same development.
In what way can the Landlord & Tenant Act 1954 affect my business premises in Heckington and how can your lawyers assist?
The 1954 Act gives protection to business tenants, giving them the a statutory right to make a request to court for a continuation of occupancy when the lease comes to an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and assist with commercial conveyancing in Heckington
There are only Seventy years remaining on my flat in Heckington. I now want to extend my lease but my freeholder is missing. What options are available to me?
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 extended by the magistrate. You will be obliged to prove that you have made all reasonable attempts to track down the lessor. For most situations a specialist would be helpful to carry out a search and prepare a report which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the application to the County Court overseeing Heckington.
Leasehold Conveyancing in Heckington - A selection of Queries before Purchasing
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The best form of lease structure is a share of the freehold. In this scenario the lessees have being in charge if their destiny and notwithstanding that a managing agent is often retained if it is bigger than a house conversion, the managing agent retained by the leaseholders. How is the lease structured? Please note that where the lease has fewer than eighty years it will have adverse implications on the marketability of the property. It is worth checking with your lender that they are happy with the length of the lease. Leases with less than 80 years remaining means that you will probably have to extend the lease sooner rather than later and it is worth finding out how much this will be. Remember, in most cases you would need to own the premises for two years before you are eligible to exercise a lease extension.
As a leasehold owner I am liable for a maintenance contribution for my ground floor flat in Heckington. Due to losing my job and personal issues I fell into arrears with payments. I negotiated a clearance schedule but there is still two outstanding as of today.
I want to sell and I am worried this can threaten to derail the sale if I have to settle the arrears in advance. Do I have to settle before - is this achievable?
Do speak with the conveyancer conducting your Heckington conveyancing but it might be possible to agree for the outstanding amount to be transferred to the buyers. The contractual price due would be adjusted to reflect the amount of debt they assume. They would then deal with the fees post completion of the purchase.