What does my ID and proof of funds have anything to do with my conveyancing in Haverhill? What am I being asked for?
You are right in the requirement set out by your lawyer has nothing to do with conveyancing in Haverhill. However these days you can not proceed with any conveyancing process if you have not handing over evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence and a bank statement. Please note that if you are supplying your driving licence as proof of ID it must be both the paper section as well as the photo card part, one is not satisfactory without the other.
Evidence of the source of money is required under Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancer must have this information on record. Your Haverhill conveyancing solicitor will need to see evidence of proof of funds prior to accepting any monies from you into their client account and they may also ask further questions regarding the origin of monies.
We are purchasing a property and the solicitor has identified Chancel Repair for which the property may be liable as it falls into the area of such a church. She has recommended insurance. Is this strictly warranted for conveyancing in Haverhill
Unless a prior acquisition of the property completed after 12 October 2013 you can take it that conveyancing practitioners delivering conveyancing in Haverhill to remain recommending a chancel search and or chancel repair liability insurance.
Due to the input of my in-laws I had a survey completed on a property in Haverhill in advance of retaining lawyers. I have been told that there is a flying freehold element to the property. Our surveyor advised that some banks may not issue a mortgage on a flying freehold house.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. If you call us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Haverhill. Conveyancing will be smoother if you use a solicitor in Haverhill especially if they are accustomed to such properties in Haverhill.
I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Haverhill. Conveyancing solicitors have are about to be appointed. Will they explain the issues?
The majority of houses in Haverhill are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can help the conveyancing process. We note that you are purchasing in Haverhill so you should seriously consider looking for a Haverhill conveyancing practitioner and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your lawyer will report to you on the legal implications.
I own a 1 bedroom flat in Haverhill, conveyancing was carried out 7 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Haverhill with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 per annum. The lease ceases on 21st October 2089
With just 64 years unexpired the likely cost is going to range between £14,300 and £16,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.
The estate agent has recommended their lawyer for our conveyancing in Haverhill - won’t it be advisable to just instruct them?
You need to establish if the selling agent is recommending a conveyancer or introducing to a solicitor. There are plenty of Haverhill selling agents who recommend two or three Haverhill conveyancing firms and get nothing from it.