My fiancee and I are purchasing our first property. Our conveyancer has texted usto check if we would like to order extra conveyancing searches. We are really unsure what's necessary for conveyancing in Waddington
The scope of Waddington conveyancing searches should be triggered based entirely on the property, the location, the possibility of any of these risks, your knowledge of the locality and risks, your general attitude to risk. What is important is that you adequately comprehend what information each search could provide. You may then make a decision if you personally think you need that search. If uncertain, ask your conveyancing practitioner to explain.
In what way does my ID and proof of funds have anything to do with my conveyancing in Waddington? Why is this being asked of me?
You are right in the requirement set out by your lawyer has nothing to do with conveyancing in Waddington. However these days you will not be able to proceed with any conveyancing deal if you have not handing over evidence of your identity. This usually takes the form of a either your passport or driving licence as well as a bank statement. Please note that if you are supplying your driving licence as proof of identification it must be both the paper element as well as the photo card part, one is not satisfactory in the absence of the other.
Evidence of your origin of monies is mandated in accordance with the Money Laundering Regulations. Don’t be offended when you are asked to produce this as your conveyancing solicitor will need to retain this information on record. Your Waddington conveyancing practitioner will need to see evidence of proof of funds before they are able to accept any money from you into their client account and they should also ask further queries concerning the origin of monies.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a simple, chain free conveyancing. Waddington is where the house is located. Is there any guidance you can impart?
Flying freeholds in Waddington are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Waddington you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Waddington may decide 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.
In what way can the Landlord & Tenant Act 1954 affect my business premises in Waddington and how can your lawyers assist?
The particular law that you refer to provides security of tenure to commercial lessees, granting the a statutory right to make a request to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and help with commercial conveyancing in Waddington
My husband and I are first time buyers - had an offer accepted, but the property agent informed us that the vendor will only go ahead if we appoint their preferred lawyers as they need an ‘expedited deal’. We would rather use a family solicitor used to conveyancing in Waddington
We suspect that the owner is not behind this demand. Should the vendor desire ‘a quick sale', alienating a serious purchaser is not the way to achieve this. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are ready to progress, with finances arranged © you are chain free (d) you wish to move quickly (e)however you will continue to appoint your preferred Waddington conveyancing lawyers - as opposed tothe ones that will provide their negotiator at the agency a introducer fee or achieve conveyancing thresholds demanded by senior management.
My wife and I purchased a leasehold house in Waddington. Conveyancing and Nationwide Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Waddington who acted for me is not around. Do I pay?
First make enquiries of HMLR to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Waddington conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I acquired a basement flat in Waddington, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Waddington with an extended lease are worth £186,000. The ground rent is £55 charged once a year. The lease ends on 21st October 2078
With only 53 years remaining on your lease we estimate the price of your lease extension to range between £27,600 and £31,800 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.