What does my ID and proof of funds have anything to do with my conveyancing in Oswaldtwistle? Is this really necessary?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to check the ID of the person or body they are dealing with prior to agreeing to accepting their conveyancing business. The Terms of Engagement that you need to sign should confirm this. Your lender will also require certain documents to be viewed. Where you are unwilling to hand over identification documents, your lawyer would not be able to accept instructions from you.
We are downsizing from our property in Oswaldtwistle and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. A local lawyer would know this is not the case. For the life of me I don't know why the buyers are using a web based conveyancing outfit as opposed to a conveyancing solicitor in Oswaldtwistle. We have lived in Oswaldtwistle for six years we know that this is a non issue. Should we contact our local Authority to seek clarification that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer already. Are they able to advise? 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 health insurance to cover that same sickness)
Despite weeks of looking the Title Certificate and documents to my home are lost. The lawyers who conducted the conveyancing in Oswaldtwistle 5 years ago have long since closed. What do I do?
Assuming you have a registered title the details of your ownership will be recorded by the Land Registry under a Title Number. It is possible to perform a search at the Land Registry, locate your house and order up to date copies of the property title for a small fee. If the title is Leasehold then the Land Registry will in most cases retain a file duplicate of the Registered Lease and again, a copy can be retrieved for a small fee.
How does conveyancing in Oswaldtwistle differ for newly converted properties?
Most buyers of new build premises in Oswaldtwistle contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is constructed. This is because builders in Oswaldtwistle typically purchase the site, 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 property lawyers 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 Oswaldtwistle or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a property in Oswaldtwistle prior to retaining lawyers. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some banks may refuse to give a mortgage on a flying freehold home.
It varies from the lender to lender. HSBC has different instructions from Halifax. Should you wish to telephone us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Oswaldtwistle. Conveyancing may be slightly more expensive based on your lender's requirements.
I've recently bought a leasehold house in Oswaldtwistle. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I bought a 1st floor flat in Oswaldtwistle, conveyancing was carried out 10 years ago. How much will my lease extension cost? Similar flats in Oswaldtwistle with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease ceases on 21st October 2081
With just 57 years left to run we estimate the price of your lease extension to span between £28,500 and £33,000 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.