The property market in East Hunsbury is heating up. What can I do to speed up matters?

In a situation where you are under time constraints to exchange it is highly recommended that your solicitor is familiar with the area as they will have local contacts and insight. It is even conceivable that they could have handled otherhouses in the same neighbourhood. You would be best advised to use a East Hunsbury conveyancing firm. In addition, ensure that the lawyer is on the on the approved list for your mortgage company. It is said that 18% of East Hunsbury conveyancing transactions are suspended or derailed after discovering a buyer’s conveyancer was not on their mortgage lender’s panel. In many cases this discovery resulted in the buying process being delayed by as much as three weeks. It is understood that this issue impacts in the region of 100,000 home sales every year. Almost all East Hunsbury conveyancing practices can not act for certain mortgage companies so do check as early as possible.

What does my ID and proof of funds have anything to do with my conveyancing in East Hunsbury? Why is this being asked of me?

East Hunsbury 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 ensure that clients are who they say they are.

Conveyancing clients will need to supply two forms of certified identification; proof of ID (usually a Passport or Driving Licence) and proof of address (typically a Utility Bill no more than three months).

Confirmation of the origin of funds is also required in compliance with the money laundering regulations as lawyers are obliged to ensure that the money you are using to buy a property (whether it be the deposit for exchange or the full purchase amount if you are buying mortgage free) has come from legitimate source (such as an inheritance) rather than the fruits of criminal behaviour.

As co-executor for the will of my aunt I am selling a residence in Swansea but I am based in East Hunsbury. My conveyancer (who is 250 miles from merequires that I execute a stat dec before the transaction finalising. Could you suggest a conveyancing solicitor in East Hunsbury who can attest this legal document for me?

Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will suffice regardless of whether they are East Hunsbury based

I only have 72 years remaining on my lease in East Hunsbury. I now want to extend my lease but my freeholder is can not be found. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to track down the landlord. On the whole a specialist may be helpful to try and locate and prepare a report which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s disappearance and the vesting order request to the County Court covering East Hunsbury.

I purchased a 1 bedroom flat in East Hunsbury, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Comparable flats in East Hunsbury with over 90 years remaining are worth £197,000. The ground rent is £55 levied per year. The lease ends on 21st October 2080

With only 56 years unexpired the likely cost is going to span between £29,500 and £34,000 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

I have been informed by various friends that it can take six to eight weeks for East Hunsbury conveyancing to complete.This was a month ago. The paperwork was only sent from the vendors solicitor last week so does the time start running now?

There is no conventional timeframe for conveyancing in East Hunsbury, or any area in the UK. You just have to ensure that your finances are in place and wait for the rest to come together.