In what way does my ID and proof of funds have anything to do with my conveyancing in Nailsea? Is this really necessary?
You are right in the requirement set out by your lawyer has nothing to do with conveyancing in Nailsea. Nowadays you will not be able to proceed with any conveyancing process if you have not submitting proof of your identity. This usually takes the form of a either your passport or driving licence as well as a utility bill. Please note that if you are supplying your driving licence as evidence of ID it needs to be both the paper element as well as the photo card part, one is not sufficient in the absence of the other.
Proof of your source of funds is necessary under Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancer will need to retain this information on record. Your Nailsea conveyancing lawyer will require evidence of proof of funds prior to accepting any funds from you into their client account and they will also ask additional questions regarding the origin of monies.
I happen to be the sole beneficiary of my late mum's will and I have everything in my name now, including the house in Nailsea. The Nailsea property was put into my name in October. I now wish to sell up. I do know about the CML six month 'rule', meaning my property ownership will be treated the same way as though I had purchased the house in October. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. Most lenders would take a sensible view as this provision primarily exists to capture subsales or the flipping of properties.
When it comes to lenders such as Santander, do Nailsea conveyancing practitioners have to pay a fee to be on the list of approved solicitors?
We are unaware of any bank fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
After shopping around on the internet I have found a Nailsea conveyancer having checked that they are on the Skipton conveyancing panel. Does my lawyer arrange the survey of the property?
Skipton will need an independent valuation of the property. Your lawyer will not arrange this. Usually Skipton will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Nailsea surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
What does a local search tell me regarding the property my wife and I purchasing in Nailsea?
Nailsea conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Onsearch The local search is essential in every Nailsea conveyancing purchase; as long as you don’t want any nasty once you have moved into your property. The search will reveal information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one near me in Nailsea I like with a park and railway links in the vicinity, however it only has 49 years unexpired on the lease. I can't really find anything else in Nailsea for this price, so just wondered if I would be making a grave error buying a short lease?
Should you require a home loan the shortness of the lease may be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
How does the Landlord & Tenant Act 1954 affect my business premises in Nailsea and how can you help?
The particular law that you refer to affords security of tenure to business leaseholders, giving them the right to apply to court for a renewal tenancy and continue in occupation when the lease reaches an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and assist with commercial conveyancing in Nailsea
I have just started marketing my ground floor apartment in Nailsea. Conveyancing lawyers have not yet been instructed, but I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the service charge as you normally would because all ground rent and maintenance invoices should be allotted on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Leasehold Conveyancing in Nailsea - Sample of Questions you should ask before buying
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You will want to discover as much as you can regarding the company managing the block as they can either make your living at the property much easier or uncomfortable. As the owner of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to day to day matters such as the tidiness of the communal areas. Ask other tenants what they think of their management. On a final note, find out the dates that you are obliged pay the service charge to the appropriate party and specifically what you get for your money. For most Nailsea leaseholds the cost for major works are not built into the maintenance charges, although a few managing agents in Nailsea require leaseholders to contribute towards a sinking fund and this is used to offset against larger works.