In what way does my ID and proof of funds have anything to do with my conveyancing in Stokesley? Is this really necessary?
It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Stokesley. However these days you will not be able to proceed with any conveyancing transaction if you have not handing over proof of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a bank statement. Please note that if you are providing your driving licence as proof of ID it must be both the paper element and photo card part, one is not sufficient without the other.
Evidence of your origin of monies is mandated under Money Laundering Regulations. Please do not be offended when you are asked to produce this as your lawyer must retain this information on record. Your Stokesley conveyancing practitioner will need to see evidence of proof of funds prior to accepting any funds from you into their client account and they will also ask additional queries regarding the origin of funds.
I purchased a renovated Edwardian house in Stokesley. Conveyancing solicitor acted for me and HSBC Bank. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold with the matching property. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Stokesley and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing solicitor who carried out the work.
I am buying a new build apartment in Stokesley. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Stokesley
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
I am using a search engine for the term cheap conveyancing in Stokesley it reveals many property lawyersin the area. How do I determine which is the suitable solicitor for purchase transaction?
The preferential method of finding a suitable conveyancer is through a trusted recommendation, so enquire of friends and relatives who have acquired a property in Stokesley or a reputable estate agent or mortgage broker. Charges for conveyancing in Stokesley differ, so it's a good idea to obtain at least four fee estimates from different solicitors. Dont forget to clarify that the charges are assured not to rise.
I own a leasehold house in Stokesley. Conveyancing and Coventry Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Stokesley who previously acted has now retired. Any advice?
The first thing you should do is contact the Land Registry to be sure that this person is indeed the new freeholder. There is no need to instruct a Stokesley conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I bought a 2 bed flat in Stokesley, conveyancing having been completed August 2008. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Stokesley with over 90 years remaining are worth £190,000. The ground rent is £65 invoiced annually. The lease ceases on 21st October 2086
With 61 years unexpired we estimate the price of your lease extension to be between £19,000 and £22,000 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.
How much will conveyancing in Stokesley cost?
Almost all Stokesley conveyancing solicitors will charge a set fee. Where additional work become due during the transaction your conveyancer must advise you in writing of any extra costs for any work as soon as it becomes obvious. Some work on a no move no fee basis, others will levy an bill for a proportion of the set costs, depending on the stage at which the transaction does not proceed.
It may be helpful for you to seek two or three conveyancers to give you an estimate.