Me and my partner are purchasing our first house. The solicitor has texted usto see if we wish to order extra conveyancing searches. Frankly we have no idea as to what's relevant for conveyancing in Woodbury
The type of Woodbury conveyancing searches depends primarily on the property, the location, the possibility of any of these risks, your knowledge of the locality and risks, your overall appetite to risk. What is important is that you properly appreciate what information each search could supply. You may then make a decision if you personally think you need that search. If unsure, ask your property lawyer to advise.
What does my ID and proof of funds have anything to do with my conveyancing in Woodbury? What am I being asked for?
Woodbury conveyancing solicitors as well as nationwide property lawyers accross the UK have a duty under money laundering regulations to verify the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to supply two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and evidence of address (typically a Bank Statement no older than three months).
Proof of the origin of funds is also required under the money laundering statutes as lawyers are mandated to ensure that the monies you are using to buy a property (be it the exchange deposit or the full purchase monies where you are a cash purchaser) has come from legitimate source (such as employment savings) rather than the proceeds of illegitimate behaviour.
Will commercial conveyancing searches reveal proposed roadworks that could impact a commercial property in Woodbury?
Its becoming the norm that commercial conveyancing solicitors in Woodbury will order a SiteSolutions Highways report as it reduces the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Woodbury. The report provides definitive data 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 Woodbury.
For each commercial conveyancing transaction in Woodbury it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may result in delays to Woodbury commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Woodbury.
I'm purchasing my first flat in Woodbury with a loan from National Westminster Bank. The builders refused to reduce the price so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not inform my lawyer about the deal as it will jeopardize my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
As co-executor for the will of my grandfather I am selling a house in Newport but live in Woodbury. My lawyer (approximately 260 miles awayneeds me to sign a statutory declaration prior to completion. Can you recommend a conveyancing practitioner in Woodbury to witness and place their company stamp on the document?
strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are located in Woodbury
What are your top tips when it comes to appointing a Woodbury conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Woodbury conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Woodbury conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:
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If the firm is not ALEP accredited then what is the reason?
I acquired a leasehold flat in Woodbury, conveyancing formalities finalised May 2001. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Woodbury with an extended lease are worth £165,000. The ground rent is £50 charged once a year. The lease finishes on 21st October 2102
With only 77 years remaining on your lease we estimate the price of your lease extension to span between £7,600 and £8,800 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be 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 without first getting professional advice.