We are purchasing our first property. The lawyer has texted usto enquire if we want to purchase supplemental conveyancing searches. We are really unsure what's appropriate for conveyancing in Stallingborough

The type of Stallingborough conveyancing searches should be triggered based entirely on the premises, the location, the probability of any of these risks, your familiarity of the area and risks, your overall approach to risk. What is important is that you adequately appreciate what information the searches could provide. Then you can decide if you personally think you need that information. Where you are unclear, ask the solicitor to guide you.

What does my ID and proof of funds have anything to do with my conveyancing in Stallingborough? Is this really warranted?

To satisfy the Money Laundering Regulations any Stallingborough conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility bill evidencing your correct address.

In accordance with Money Laundering Regulations, property lawyers are required to validate not simply the ID of conveyancing clients but also the origin of monies that they receive in respect of any matter. Refusal to disclose this may result in your lawyer cancelling their relationship 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 consider that any amounts received by them may contravene the Money Laundering Regulations.

We wanted to use a property lawyer in Stallingborough for our home move. Our financial adviser informed us that our bank Alliance & Leicester won't deal with them. Why is this not regarded as unfair competition?

A decade ago most lenders had an appetite for risk which was higher than today. Almost all Stallingborough conveyancing firms would have been on many lender panels. The FSA in 2010 carried out a thematic investigation into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more information from law firms about their operations and the individuals who work for them and establishing certain criteria such a completing on a minimum amount of transactions. Many Stallingborough conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Stallingborough is one of the thousands of locations where the lawyers we recommend are are authorised to act for Alliance & Leicester .

Is it possible to change conveyancer as I need to instruct one who is on the Coventry Building Society conveyancing panel. I was using a family conveyancing solicitor in Stallingborough round the corner but the firm is not accepted by Coventry Building Society

We will our best to assist in finding you a conveyancing solicitor in Stallingborough on the Coventry Building Society panel. Please note that the solicitors that we work with do not pay us fee if you instruct them and are under regulation of the SRA who oversee all conveyancing solicitors in Stallingborough. In making use of the find a conveyancing solicitor tool on this site, you can scrutinise charges for conveyancing solicitors in Stallingborough and beyond.

I am employed by a reputable estate agent office in Stallingborough where we have witnessed a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Stallingborough conveyancing solicitors. Can you clarify whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

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.

I acquired a 2 bed flat in Stallingborough, conveyancing formalities finalised July 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Stallingborough with an extended lease are worth £165,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease finishes on 21st October 2101

You have 77 years left to run we estimate the price of your lease extension to span between £7,600 and £8,800 as well as professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. 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 take any other action placing reliance on this information before seeking the advice of a professional.