What does my ID and proof of funds have anything to do with my conveyancing in Whitley Bay? Why is this being asked of me?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Whitley Bay. However these days you can not proceed with any conveyancing transaction in the absence handing over proof of your identity. This usually takes the form of a either your passport or driving licence and a council tax bill. Please note that if you are supplying your driving licence as evidence of ID it must be both the paper element and photo card part, one is not acceptable in the absence of the other.
Verification of the source of monies is required under Money Laundering Regulations. You should not be offended when you are asked to produce this as your conveyancing solicitor must have this information on file. Your Whitley Bay conveyancing solicitor will require evidence of proof of funds prior to accepting any funds from you into their client account and they should also ask additional queries regarding the source of monies.
Will commercial conveyancing searches reveal proposed roadworks that could impact a commercial estate in Whitley Bay?
Many commercial conveyancing solicitors in Whitley Bay will execute a SiteSolutions Highways report as it reduces the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Whitley Bay. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Whitley Bay.
For each commercial conveyancing transaction in Whitley Bay it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could result in delays to Whitley Bay commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Whitley Bay.
I have justbeen informed that Wolstenholmes have closed. They carried out my conveyancing in Whitley Bay for a purchase of a freehold house 9 months ago. How can I check that the property is registered correctly in the name of the previous owner?
The easiest method to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Whitley Bay conveyancing specialists.
How does conveyancing in Whitley Bay differ for newly converted properties?
Most buyers of new build premises in Whitley Bay approach us having been asked by the seller to exchange contracts and commit to the purchase even before the house is built. This is because developers in Whitley Bay usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Whitley Bay or who has acted in the same development.
Can you offer any advice when it comes to appointing a Whitley Bay conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Whitley Bay conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Whitley Bay conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be useful:
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If they are not ALEP accredited then why not?
I invested in buying a 2 bed flat in Whitley Bay, conveyancing formalities finalised in 2010. Can you work out an approximate cost of a lease extension? Comparable flats in Whitley Bay with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease terminates on 21st October 2077
With just 52 years left to run we estimate the premium for your lease extension to span between £29,500 and £34,000 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.
I bought a house in Whitley Bay last 29/12/2023 and to date it is still not registered with HMLR. It was part of a development site and my conveyancer told me that it may take 12 months to register. I have called HMLR directly and they say that the original application was cancelled due to questions not being addressed in time. Should I be concerned?
Call your solicitor - Where you are unsatisfied with the responses, find out about their internal complaints procedure and escalate your problem to a Partner. Registrations for Whitley Bay conveyancing are not known to be particularly slow.