Finally, a mortgage offer from NatWest for the refinancing of my single bedroom apartment is coming within the next few days. Can you suggest a low cost conveyancing practitioner in Wellington?
You have arrived at the wrong place to search for the cheapest conveyancing in Wellington. Our intention is to offer value for money conveyancing but our intention is not to advertise as being the cheapest. Do not be fooled by organisations enticing you with £100 conveyancing in Wellington. At best, in choosing a lawyer for low cost conveyancing, you will get your money’s worth and at worst it will result in you being stung for additional fees and still not end up with the service you were hoping for.
Do the conveyancing practitioners that you recommend execute auction conveyancing in Wellington?
There are a number of niche practitioners we can connect you with those who can conduct auction conveyancing. Wellington is one of our locations where our lawyers have offices.
In what way does my ID and proof of funds have anything to do with my conveyancing in Wellington? What am I being asked for?
You are right in the requirement set out by your lawyer has nothing to do with conveyancing in Wellington. However these days you can not complete any conveyancing process if you have not handing over proof of your identity. This usually takes the form of a either your passport or driving licence and a council tax bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part as well as the photo card part, one is not satisfactory in the absence of the other.
Proof of the origin of funds is mandated under Money Laundering Regulations. Don’t be offended when when this is requested of you as your conveyancer will need to retain this information on file. Your Wellington conveyancing lawyer will require 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 source of funds.
The estate agent has sent us the confirmation of our purchase of a new build flat in Wellington. Conveyancing is daunting 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.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Wellington
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. 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. Please confirm the Lease plans are surveyor prepared. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a simple, no chain conveyancing. Wellington is the location of the property. Is there any guidance you can give?
Flying freeholds in Wellington are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wellington you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wellington 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 residence.
What makes a Wellington lease defective?
Leasehold conveyancing in Wellington is not unique. All leases are individual and drafting errors can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
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Service charge per centages that don't add up correctly leaving a shortfall Insurance obligations
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Skipton Building Society, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.
Leasehold Conveyancing in Wellington - Examples of Questions you should consider Prior to buying
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Please tell me if there are any major works in the planning that could add a premium to the service fees? In the main the cost for major works are not included within service charges, albeit that a few managing agents in Wellington ask leaseholders to pay into a reserve fund and this is used to offset against larger repairs or maintenance. Is there a share of the freehold?