What does my ID and proof of funds have anything to do with my conveyancing in Coleford? Is this really necessary?

It is indeed that case that these requests have nothing to do with conveyancing in Coleford. However these days you can not complete any conveyancing process without first supplying proof of your identity. This usually takes the form of a either your passport or driving licence as well as a council tax bill. Remember if you are providing your driving licence as evidence of identification it must be both the paper element as well as the photo card part, one is not acceptable without the other.

Proof of the origin of monies is required in accordance with the Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancing solicitor must have this information on file. Your Coleford conveyancing lawyer will need to see evidence of proof of funds prior to accepting any money from you into their client account and they may also ask additional queries concerning the source of funds.

How does conveyancing in Coleford differ for newly converted properties?

Most buyers of new build property in Coleford contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is completed. This is because developers in Coleford usually purchase the land, 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 Coleford or who has acted in the same development.

I have been on the look out for a ground for flat up to £245,000 and found one round the corner in Coleford I like with open areas and station in the vicinity, however it's only got 51 years unexpired on the lease. There is not much else in Coleford for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?

If you need a mortgage the shortness of the lease will be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you could request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.

In my capacity as executor for the will of my aunt I am selling a residence in Swansea but reside in Coleford. My conveyancer (who is 260 miles awayneeds me to execute a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing practitioner in Coleford who can attest this legal document for me?

strictly speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are Coleford based

Can you offer any advice when it comes to choosing a Coleford conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Coleford conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Coleford conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be of use:

If the firm is not ALEP accredited then what is the reason? How experienced is the practice with lease extension legislation?

Coleford Leasehold Conveyancing - Sample of Questions you should ask before buying

Plenty Coleford leasehold flats will have a service bill for maintenance of the block levied by the freeholder. If you acquire the property you will have to meet this amount, normally quarterly accross the year. This may vary from several hundred pounds to thousands of pounds for blocks with lifts and large common grounds. There will also be a ground rent for you to pay annual, ordinarily this is not a large sum, say about £50-£100 but you should to check it because occasionally it could be surprisingly expensive. What is the name of the managing agents? The prefered form of lease arrangement is a share of the freehold. In this arrangement the tenants benefit from being in charge if their destiny and even though a managing agent is often retained if it is larger than a house conversion, the managing agent employed by the leaseholders.