In what way does my ID and proof of funds have anything to do with my conveyancing in Ravenglass? Is this really necessary?
To satisfy the Money Laundering Regulations any Ravenglass conveyancing firm will require proof of identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account evidencing where you reside.
Under Money Laundering Regulations, property lawyers are obliged by law to ascertain not only the ID of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this will lead to your lawyer ending their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to make a disclosure to the appropriate authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
We're in Ravenglass, First timers purchasing with a mortgage (lender is UBS , and our solicitor is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
There is lots of information on this site concerning conveyancing in Ravenglass but can you isolate your top tip for appointing the right conveyancer in Ravenglass
It would be unwise to be seduced by the cheapest Ravenglass conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
What is the difference between a licensed conveyancer and conveyancing solicitor in Ravenglass
There are many registered licenced Conveyancers in Ravenglass and Solicitor partnerships in Ravenglass who provide Conveyancing services It is important to make clear that the two are regulated professionals specialising in the legal aspects of the home buying process. Both can deal with other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
We are buying a 3 bedroom semi in Ravenglass. Our aim is to carry out a loft conversion at the house.Will legal conveyancing on the property involve investigations to determine if these works were previously refused?
Your property lawyer should check the registered title as conveyancing in Ravenglass will sometimes identify restrictions in the title documents which restrict categories of works or necessitated the permission of a 3rd party. Certain extensions need local authority planning consent and approval in accordance building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be wise to check these issues with a surveyor before you commit yourself to a purchase.
What will a local search tell me about the house we're purchasing in Ravenglass?
Ravenglass conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search company for instance Xpress Legal The local search plays a central part in many a Ravenglass conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search should reveal data on, amongst other things, details on planning applications applicable to the property (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 thirteen topic sections.
I am employed by a long established estate agent office in Ravenglass where we have experienced a few flat sales derailed due to short leases. I have received conflicting advice from local Ravenglass conveyancing firms. Could you clarify whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the registered owner of a leasehold flat in Ravenglass, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Ravenglass with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 yearly. The lease expires on 21st October 2094
With only 69 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
I need to assess estimates for conveyancing in Ravenglass from numerous lawyer and decide on one. Am I right to ask them to sit tight until I I have an offer accepted on a house.
We would recommend that you wait to ask your property lawyer to start work and submit searches after the sales memorandum has been issued by the estate agent particularly as Ravenglass conveyancing searches are a couple of hundred pounds.