In what way does my ID and proof of funds have anything to do with my conveyancing in Treorchy? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Treorchy conveyancing firm will require evidence of your identity in all conveyancing matters. This is usually satisfied by provision of a passport and an original bank statement or utility bill showing your correct address.
Under Money Laundering Regulations, conveyancing solicitors are required to check not simply the identity of conveyancing clients but also the origin of monies that they receive in respect of any matter. An unwillingness to disclose this will lead to your solicitor cancelling their relationship 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 consider that any monies received by them may contravene the Money Laundering Regulations.
This question may be naive but I am unseasoned as FTB of a two bedroom flat in Treorchy. Do I receive the keys to the house on completion from my solicitor? If this is the case, I will use a local conveyancing solicitor in Treorchy?
On the day of completion you do not need to go to the conveyancers office in Treorchy. Your solicitors will arrange to send the purchase money to the seller's solicitors, and once they have received this, you should be able to receive the keys from the property Agents and start moving into the property. This tends to happen early afternoon.
My conveyancer has informed me that restrictive coveneant insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Treorchy?
The right level of restrictive coveneant indemnity insurance should be dictated by who who your lender is. It would differ for example between Lloyds TSB Bank and Norwich and Peterborough Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
When it comes to lenders such as Virgin Money, do Treorchy solicitors face an annual charge to be on the list of approved solicitors?
We are not aware of any mortgage company fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
My relative advised me that if I am buying in Treorchy I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Treorchy conveyancing searches. It is a large report of about 40 pages, listing and setting out significant information about Treorchy around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Treorchy Education with plans and statistics, Local Amenities and other useful information concerning Treorchy.
I used Wolstenholmes a few years past for my conveyancing in Treorchy. I now require my papers however cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Treorchy of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been recommended by a number of estate agents in Treorchy to choose a property lawyer using your seach tool. What’s the financial upside for Estate Agents to recommend your services ahead of another?
We refuse to give any financial incentive for pointing buyers and sellers to this site. We found it would be just too difficult a fee as a client could think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
Having had my offer accepted I require leasehold conveyancing in Treorchy. Before diving in I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Treorchy - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I acquired a 1st floor flat in Treorchy, conveyancing having been completed July 2003. 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? Corresponding properties in Treorchy with a long lease are worth £195,000. The ground rent is £45 levied per year. The lease ends on 21st October 2089
With just 63 years left to run we estimate the premium for your lease extension to span between £16,200 and £18,600 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.