What does my ID and proof of funds have anything to do with my conveyancing in Lyneham? Is this really warranted?
It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Lyneham. Nowadays you can not proceed with any conveyancing transaction in the absence submitting proof of your identity. This usually takes the form of a either your passport or driving licence plus a utility bill. Remember if you are supplying your driving licence as proof of identification it must be both the paper element and photo card part, one is not satisfactory without the other.
Proof of your source of funds is necessary under Money Laundering Regulations. Don’t be offended when when this is requested of you as your conveyancing solicitor must retain this information on file. Your Lyneham conveyancing practitioner will need to see evidence of proof of funds before they are able to accept any money from you into their client account and they will also ask further questions concerning the source of monies.
How does conveyancing in Lyneham differ for new build properties?
Most buyers of new build residence in Lyneham come to us having been asked by the developer to sign contracts and commit to the purchase even before the residence is constructed. This is because developers in Lyneham usually 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 conveyancing solicitors 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 Lyneham or who has acted in the same development.
I opted to have a survey completed on a house in Lyneham in advance of appointing solicitors. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some lenders will refuse to grant a loan on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. Should you wish to call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Lyneham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Lyneham to see if the conveyancing will be more expensive.
I am looking into buying my first house which is in Lyneham and I am already nervous. I couldn't find anything specific about Lyneham. Conveyancing will be needed in due course but do you know about the Lyneham area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Lyneham. In the meantime here are some basic statistics that we found
My step-father has recommend that I instruct his conveyancing solicitors in Lyneham. Do I follow his recommendation?
Much as we are happy to recommend a Lyneham conveyancing lawyer the ideal way to select a conveyancing lawyer is to get feedback from friends or family who have actually previously instructed the firm you're considering.
What makes a Lyneham lease defective?
Leasehold conveyancing in Lyneham is not unique. Most leases are unique and drafting errors can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
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A provision for the recovery of money spent for the benefit of another party. Service charge per centages that don't add up correctly leaving a shortfall
You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Skipton Building Society, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.
Lyneham Conveyancing for Leasehold Flats - A selection of Queries before buying
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You should be aware that where the lease has no more than 80 years it will affect the salability of the flat. Check with your lender that they are happy with remaining years on the lease. Leases with less than 80 years remaining means that you will most likely have to extend the lease sooner rather than later and it is worth discovering how much this will be. Remember, in most cases you will be required to have been the owner of the premises for a couple of years in order to be legally able to exercise a lease extension. The majority of Lyneham leasehold apartments will be liable to pay a service charge for the upkeep of the building invoiced by the management company. Should you buy the property you will have to meet this contribution, usually periodically during the year. This could differ from several hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. In all probability there will be a rentcharge for you to pay annual, this is usually not a large figure, say around £25-£75 but you should to enquire as on occasion it could be many hundreds of pounds.