In what way does my ID and proof of funds have anything to do with my conveyancing in Llangefni? What am I being asked for?

To satisfy the Money Laundering Regulations any Llangefni conveyancing firm will require proof of identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility bill evidencing where you reside.

In accordance with Money Laundering Regulations, conveyancing solicitors are required to check not only the ID of conveyancing clients but also the origin of the money that they receive in respect of any matter. An unwillingness to disclose this will lead to your lawyer cancelling their retainer 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 relevant authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.

My bank has recommended a law firm on their panel based in Llangefni but I would rather use a conveyancing lawyer in Llangefni round the corner to me. Can you help?

It is by no means the case that all Llangefni conveyancing practitioners are approved and listed on all lender’s conveyancing panel. Please make the most of our search tool to find a Llangefni conveyancing conveyancer on the on the mortgage company panel.

It has been three months since my purchase conveyancing in Llangefni concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

How does the Landlord & Tenant Act 1954 impact my business offices in Llangefni and how can you help?

The 1954 Act provides security of tenure to commercial tenants, giving them the a statutory right to make a request to court for a new lease and remain in occupation at the end of the lease term. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and handle your commercial conveyancing in Llangefni

I am employed by a busy estate agency in Llangefni where we have experienced a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Llangefni conveyancing solicitors. Can you clarify whether the owner of a flat can commence the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Leasehold Conveyancing in Llangefni - A selection of Queries Prior to buying

The answer will be important as a) areas may result in problems for the building as the communal areas may begin to deteriorate if services are not paid for b) if the tenants have an issue with the managing agents you will wish to know about it For many Llangefni leaseholds the cost for major works are not built into the service charges, although a few managing agents in Llangefni ask tenants to contribute towards a sinking fund and this is used to offset against major works. The best form of lease structure is a share of the freehold. In this arrangement the lessees benefit from control and even though a managing agent is frequently employed if it is larger than a house conversion, the managing agent employed by the leaseholders.