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

Rhayader conveyancing solicitors as well as nationwide property practitioners throughout the UK have a duty under Anti-terror and anti-money-laundering rules to verify the ID of any client in order to ensure that clients are who they say they are.

Conveyancing clients will need to provide two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and proof of address (usually a Utility Bill less than 3 months old).

Confirmation of source of funds is also required under the money laundering regulations as conveyancers have a duty to check that the funds you are utilising to purchase a property (be it the exchange deposit or the total purchase amount if you are buying without a mortgage) has come from an acceptable source (such as an inheritance) rather than the product of criminal behaviour.

Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Rhayader is the location of the property. Can you shed any light on this issue?

Flying freeholds in Rhayader are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Rhayader you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Rhayader may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

We are 14 days into a leasehold purchase having been referred to solicitors by the local agent to execute conveyancing in Rhayader. I am am starting to be frustrated with the quality of service. Could you you assist me in finding new lawyers?

A lawyer would need to be very poor in order to consider replacing them. Has your loan offer been sent? If so you will need to advise them of the replacement lawyer and ensure the mortgage documents are re-sent. Your new conveyancer needs to be on the lenders approved list to avoid supplemental expenses and complications. So that should be your starting point. Our search tool will assist you in finding a bank approved solicitor for your conveyancing in Rhayader

I have just appointed agents to market my basement flat in Rhayader. Conveyancing lawyers have not yet been instructed, however I have recently received a yearly maintenance charge invoice – Do I pay up?

The sensible thing to do is discharge the invoice as usual given that all rents and maintenance charges will be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am the registered owner of a 2 bed flat in Rhayader, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Rhayader with a long lease are worth £197,000. The ground rent is £55 invoiced every year. The lease comes to an end on 21st October 2080

With just 56 years unexpired we estimate the premium for your lease extension to range between £29,500 and £34,000 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.

Why am I unable to complete our conveyancing in Rhayader on Easter Monday?

Because on completion the funds needs to be transferred electronically between the banks of the buyer and owner’s conveyancing practitioner and at present this can only occur on a business day. So you can't complete on a weekend either.