What does my ID and proof of funds have anything to do with my conveyancing in Montacute? Why is this being asked of me?
Montacute conveyancing solicitors and indeed property practitioners accross the UK have an obligation 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 are required to produce two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and evidence of address (typically a Bank Statement less than 3 months old).
Evidence of source of funds is also necessary under the money laundering statutes as conveyancers have a duty to ensure that the funds you are using to purchase a property (whether it be the deposit for exchange or the full purchase monies if you are buying without a mortgage) has originated from an acceptable source (such as an inheritance) and is not the proceeds of criminal activity.
A relative advised me that in buying a property in Montacute there could be a number of restrictions as to what one can do in terms of external alterations to the property. Is this right?
There are a number of properties in Montacute which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Montacute should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Are all Montacute Conveyancing Quality Solicitors on the Skipton conveyancing list of approved firms?
It is true that some banks and building societies now use CQS as the starting point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
Completion of my purchase has taken place for my property in Montacute. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
We are close to exchanging contracts on the sale of our house in Montacute and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. Any local conveyancer would know this is not the case. It does beg the question why the buyers instructed a web based conveyancing practice as opposed to a conveyancing solicitor in Montacute. We have lived in Montacute for six years we know of no issue. Is it a good idea to contact our local Authority to get clarification need.
It sounds as though you may have a conveyancing solicitor 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 illness)
I've recently found out that there is a flying freehold element on a property I have offered on last month in what was supposed to be a quick, chain free conveyancing. Montacute is where the house is located. Can you shed any light on this issue?
Flying freeholds in Montacute are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Montacute you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Montacute may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
What is different about your site and alternative internet conveyancing solicitors when it comes to conveyancing in Montacute?
At this site get a conveyancing quote via a Solicitor or Licensed Conveyancer that understands the nuances for your conveyancing in Montacute. Unlike many estate agents and many comparison sites we do not operate kick-back deals with solicitors. Some agents and online brokers 'recommend' the firm who pay the highest kickback, not the best value conveyancing in Montacute
I am attracted to a couple of apartments in Montacute which have approximately 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Montacute. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the value of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this area.
I am the registered owner of a 1st floor flat in Montacute, conveyancing formalities finalised in 1998. How much will my lease extension cost? Corresponding properties in Montacute with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 yearly. The lease comes to an end on 21st October 2078
With only 53 years left to run we estimate the price of your lease extension to range between £27,600 and £31,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.