In what way does my ID and proof of funds have anything to do with my conveyancing in Kinver? Why is this being asked of me?
You are right in these requests have nothing to do with conveyancing in Kinver. Nowadays you can not complete any conveyancing deal in the absence providing evidence of your identity. This usually takes the form of a either your passport or driving licence plus a utility bill. Please note that if you are providing your driving licence as proof of identification it must be both the paper part and photo card part, one is not acceptable in the absence of the other.
Evidence of your source of money is mandated under Money Laundering Regulations. You should not be offended when you are asked to produce this as your conveyancing solicitor must retain this information on record. Your Kinver conveyancing practitioner will require evidence of proof of funds prior to accepting any money from you into their client account and they will also ask further queries regarding the source of funds.
We were going to get a OIP from Coventry BS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Coventry BS recommend any Kinver solicitors on the Coventry BS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Kinver solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
I am selling my apartment. I had a double glazing fitted in August 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Clydesdale are being difficult. The Kinver solicitor who is on the Clydesdale conveyancing panel is recommending indemnity insurance as a solution but Clydesdale are requiring a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale 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.
I have finally had an offer on an apartment in Kinver accepted, but there is a chain. The sellers have offered on a flat, however it’s not yet agreed to, and have viewings of other properties in the pipeline. I have chosen a local conveyancing solicitor in Kinver. What do I do now? When should I get the mortgage application with Skipton going?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of one thousand pounds, then survey, Kinver conveyancing search charges, etc). First, you must check that your lawyer is on the Skipton conveyancing panel. Concerning the next phase this very much dictated by the specifics of your case, desire for this property and on the state of the market. During a hot market some buyers would apply for a home loan with Skipton and pay for the valuation and only if it was satisfactory would they request their property lawyer to proceed with the conveyancing in Kinver.
Will our solicitor be making enquiries concerning flooding during the conveyancing in Kinver.
Flooding is a growing risk for solicitors dealing with homes in Kinver. There are those who purchase a property in Kinver, fully expectant that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, however there are a numerous checks that can be initiated by the purchaser or on a buyer’s behalf which should give them a better understanding of the risks in Kinver. The standard information sent to a buyer’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the vendor to determine whether the property has suffered from flooding. If the residence has been flooded in past which is not disclosed by the owner, then a purchaser may issue a legal claim for losses stemming from an misleading reply. The purchaser’s conveyancers should also carry out an enviro report. This should disclose if there is any known flood risk. If so, further investigations will need to be initiated.
The deeds to our home are lost. The conveyancers who dealt with the conveyancing in Kinver 5 years ago are no longer around. What are my options?
As long as the title is registered the details of your proprietorship will be retained by the Land Registry with a Title Number. It is possible to execute a search at the Land Registry, locate your house and obtain up to date copies of the property title for less than a fiver. If the property is Leasehold then the Land Registry will also normally hold a file duplicate of the Registered Lease and again, a copy can be ordered for a small fee.
I have been on the look out for a ground for flat up to £245,000 and found one round the corner in Kinver I like with a park and station nearby, the downside is that it's only got 61 years on the lease. I can't really find anything else in Kinver suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
My wife and I purchased a leasehold house in Kinver. Conveyancing and Coventry Building Society mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Kinver who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Kinver conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a leasehold flat in Kinver, conveyancing formalities finalised 3 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Kinver with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ceases on 21st October 2086
With just 62 years left to run we estimate the premium for your lease extension to range between £17,100 and £19,800 plus professional fees.
The suggested premium range 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 tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.