In what way does my ID and proof of funds have anything to do with my conveyancing in Wylam? Why is this being asked of me?

Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to check the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you are required to sign should stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you are unwilling to supply identification documents, your lawyer can not take you on as a client.

Over the last few months I have been searching for a ground for flat up to £235,500 and found one round the corner in Wylam I like with amenity areas and transport links in the vicinity, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in Wylam for this price, so just wondered if I would be making a grave error buying a lease with such few years left?

If you need a home loan that many years will likely be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this.

I am selling my home. My former lawyers has retired. It would be helpful to have a recommendation of a conveyancing firm. Im based in Wylam if that makes things easier.

You should use our search tool to help you choose a solicitor for your conveyancing in Wylam. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.

As co-executor for the estate of my grandfather I am disposing of a property in Swansea but live in Wylam. My conveyancer (who is 260 miles from mehas requested that I execute a statutory declaration ahead of the transaction finalising. Can you recommend a conveyancing lawyer in Wylam to witness and place their company stamp on the document?

strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will do regardless of whether they are Wylam based

I've found a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Wylam. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

The majority of houses in Wylam are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Wylam in which case you should be looking for a Wylam conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer should report to you on the legal implications.

Wylam Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing

Plenty Wylam leasehold properties will be liable to pay a service bill for the upkeep of the building set on behalf of the management company. Should you purchase the flat you will have to pay this contribution, usually quarterly throughout the year. This could differ from a few hundred pounds to thousands of pounds for blocks with lifts and large common areas. There will also be a ground rent to be met yearly, this is usually not a large amount, say about £50-£100 but you should to check it because occasionally it could be prohibitively expensive. The best form of lease arrangement is if the freehold title is owned by the leaseholders. In this arrangement the leaseholders have control and notwithstanding that a managing agent is often retained where it is bigger than a house conversion, the managing agent retained by the leaseholders. How many of the leaseholders are in arrears for their service charge payments?