I plan on acquiring a ground floor flat in Southbourne. My property lawyer has never been on on the lender conveyancing panel. Is it possible for me to use my Southbourne conveyancing solicitor notwithstanding that they are not on the mortgage company approved list?
One must use a conveyancing practitioner to complete the formalities when you take out a loan to purchase your home. The conveyancing practitioner will conduct all the relevant investigations on the property, make sure that you’re registered as proprietor and ensure that all the required mortgage documentation is dealt with. One can appoint a Southbourne solicitor of your choice. However, if the lawyer appointed is not a member of the lender approved list additional costs will arise as separate legal representation will be need by the mortgage company. Conveyancing panel applications may be submitted, so where your solicitor has not previously applied for membership they should take the chance to apply.
What does my ID and proof of funds have anything to do with my conveyancing in Southbourne? Is this really necessary?
You are right in the requirement set out by your lawyer has nothing to do with conveyancing in Southbourne. Nowadays you will not be able to complete any conveyancing transaction without first submitting evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a bank statement. Remember if you are providing your driving licence as proof of identification it needs to be both the paper part and photo card part, one is not acceptable in the absence of the other.
Evidence of your source of monies is mandated under Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancer will need to have this information on file. Your Southbourne conveyancing solicitor will require evidence of proof of funds before they are able to accept any funds from you into their client account and they may also ask additional queries regarding the origin of monies.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Southbourne is where the house is located. What do you suggest?
Flying freeholds in Southbourne are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Southbourne you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Southbourne may determine 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.
Do I need to be suspicious by 3rd parties that I am dealing with are recommending a web based conveyancing firm rather than a local Southbourne conveyancing practice?
As is the case with many service providers, often referrals from family and friends can be most helpful. But there are numerous parties with a keen interest in a conveyancing deal; estate agents, financial adviser and banks may suggest solicitors to select. On occasion the solicitors might be known to one of the organisations as experts in their field, but sometimes there may be a financial incentive behind the recommendation. You are free to appoint your preferred conveyancer. You need to be aware that some lenders specify a panel list of law firms you must use for the lender aspect of your home move.
My cousin has suggested that I instruct his lawyers for conveyancing in Southbourne. Do I follow his guidance?
No doubt the best way to select a conveyancing lawyer is to get feedback from friends or family who have actually used the conveyancer that you are considering.
I only have 68 years remaining on my lease in Southbourne. I need to get lease extension but my landlord is missing. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to track down the freeholder. For most situations a specialist may be useful to conduct investigations and to produce a report which can be used as evidence that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Southbourne.
I inherited a split level flat in Southbourne, conveyancing formalities finalised 10 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Southbourne with an extended lease are worth £180,000. The ground rent is £65 levied per year. The lease terminates on 21st October 2083
With only 58 years unexpired we estimate the price of your lease extension to range between £21,900 and £25,200 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.