In the event thatI was to acquire a simple residential housein Bedminster for cash and dispense with a survey and no local authority searches how much could I expect to have to pay for conveyancing in Bedminster?
The sole saving you would make on is the Bedminster conveyancing searches. A solicitor is obliged to do the vast majority of work - money laundering, liaising with your sellers conveyancing practitioner, SDLT return, register the title etc. You might save a bit for them not having to register a mortgage however it will not be significant.
What does my ID and proof of funds have anything to do with my conveyancing in Bedminster? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Bedminster conveyancing firm will require proof of identity in all conveyancing transactions. This is usually dealt with by provision of a passport and an original bank statement or utility bill evidencing where you live.
Under Money Laundering Regulations, property lawyers are obliged by law to validate not just the ID of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this will result in your solicitor ending 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 notify the appropriate authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
My lawyer in Bedminster is not listed on the Leeds Building Society Conveyancing Panel. Is it possible for me to use my prefered solicitor even though they are not on the Leeds Building Society panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your preferred Bedminster solicitors but Leeds Building Society will need to instruct a solicitor on their list of acceptable firms. This will result in additional overall legal charges and cause delays.
- Choose an alternative practitioner to to deal with the purchase, remembering to check they are Leeds Building Society approved.
- Persuade your Leeds Building Society based solicitor to seek to join the Leeds Building Society panel
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a simple, no chain conveyancing. Bedminster is where the house is located. Can you offer any opinion?
Flying freeholds in Bedminster are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bedminster you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bedminster 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 premises.
In what way can the Landlord & Tenant Act 1954 affect my commercial property in Bedminster and how can you help?
The particular law that you refer to affords a safeguard to business leaseholders, granting the a statutory right to make a request to court for a new lease and remain in occupation when the lease comes to an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Bedminster is one of the hundreds of areas of the UK in which our lawyers are based