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

In order to comply with Money Laundering Regulations any Corbridge conveyancing firm will require evidence of your identity in all conveyancing matters. This is usually dealt with by provision of a passport and an original bank statement or utility account showing your correct address.

In accordance with Money Laundering Regulations, property lawyers are required to investigate 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 may lead to your conveyancer ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.

Your property lawyers are duty bound to notify the relevant authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.

We're in Corbridge, First time buyers buying with a mortgage (lender is Yorkshire BS , and our solicitor is on the Yorkshire BS conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the Yorkshire BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.

Due to the guidance of my in-laws I had a survey completed on a house in Corbridge before appointing lawyers. I have been told that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies tend not issue a mortgage on this type of property.

It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Corbridge. Conveyancing will be smoother if you use a solicitor in Corbridge especially if they are familiar with such properties in Corbridge.

I need to appoint a conveyancing solicitor for my conveyancing in Corbridge. I happened to discover a site which appears to be the ideal solution If there is a chance to get all the legals done via email that would be preferable. Do I need to be concerned? What should out be looking out for?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

I am a negotiator for a reputable estate agent office in Corbridge where we have experienced a few leasehold sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Corbridge conveyancing solicitors. Can you clarify whether the owner of a flat can commence the lease extension process for the buyer?

As long as 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 need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

An alternative approach is 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.

Corbridge Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing

The best form of lease structure is if the freehold title is in the ownership of the leaseholders. In this scenario the tenants benefit from being in charge if their destiny and notwithstanding that a managing agent is often employed where the building is bigger than a house conversion, the managing agent is directed by the tenants. The majority of Corbridge leasehold properties will be liable to pay a service bill for maintenance of the block set by the landlord. Should you purchase the flat you will have to pay this amount, normally periodically throughout the year. This can be anything from a few hundred pounds to thousands of pounds for buildings with lifts and large communal areas. There will also be a rentcharge for you to pay yearly, this is usually not a large figure, say approximately £50-£100 but you should to enquire it because on occasion it can be many hundreds of pounds. Are there any major works in the planning that could add a premium to the service charges?