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

It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Allestree. However these days you will not be able to complete any conveyancing deal without first supplying evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a bank statement. Remember if you are supplying your driving licence as proof of ID it needs to be both the paper part and photo card part, one is not satisfactory without the other.

Evidence of the source of funds is mandated in accordance with the Money Laundering Regulations. You should not be offended when you are asked to produce this as your lawyer must have this information on record. Your Allestree conveyancing solicitor will require evidence of proof of funds prior to accepting any monies from you into their client account and they may also ask additional questions regarding the source of monies.

About to purchase a new build flat in Allestree. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Allestree

Please supply a car parking plan. There must be mutual enforceability of lessee’s covenants. Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.

Due to the guidance of my in-laws I had a survey completed on a property in Allestree before retaining lawyers. I have been advised that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies tend refuse to give a loan on a flying freehold property.

It depends who your proposed lender is. Lloyds has different instructions from Halifax. If you e-mail us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Allestree. Conveyancing will be smoother if you use a solicitor in Allestree especially if they are familiar with such properties in Allestree.

My brother has recommend that I appoint his conveyancing solicitors in Allestree. Should I use them?

No doubt the best way to find a conveyancing practitioner is to have guidance from friends or family who have actually used the solicitor you're contemplating using.

Is there a reason that Allestree conveyancing costs are more expensive for leasehold and freehold properties?

There is always increased work involved for leasehold conveyancing. Allestree has many leasehold properties. There is more paperwork involved in the purchase: for example, the lease and leasehold information (including up to date service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.