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

Cardigan conveyancing solicitors and indeed property lawyers accross the UK have a duty under Anti-terror and anti-money-laundering rules to verify the ID of any client with a view to satisfy themselves that clients are who they say they are.

Conveyancing clients are required to disclose two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and evidence of address (typically a Bank Statement less than 3 months old).

Proof of the origin of funds is also required under the money laundering regulations as conveyancers are obliged to ensure that the funds you are using to buy a property (be it the exchange deposit or the full purchase amount where you are buying without a mortgage) has originated from a reputable source (such as an inheritance) rather than the proceeds of illegitimate behaviour.

Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Cardigan. My lender is Virgin

Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 16/10/2025, the requirements read as follows :

I decided to have a survey carried out on a property in Cardigan prior to appointing solicitors. I have been advised that there is a flying freehold overhang to the house. The surveyor has said that some lenders will not grant a loan on a flying freehold home.

It depends who your proposed lender is. Santander has different requirements from Nationwide. If you call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cardigan. Conveyancing will be smoother if you use a solicitor in Cardigan especially if they are acquainted with such properties in Cardigan.

Do I need to be suspicious by estate agents that I am dealing with are recommending a web based conveyancing firm rather than a local Cardigan conveyancing firm?

As with many professional services, often referrals from family and friends can be extremely useful or valuable. Nevertheless there are many people with a keen interest in a conveyancing matter; estate agents, mortgage brokers and banks may recommend conveyancers to choose. On occasion these solicitors might be known to one of the organisations as being good in their field, but occasionally there exists a commercial relationship behind the recommendation. You have the discretion to appoint your own lawyer. You need to be aware that some mortgage providers specify a panel list of law firms you must use for the lender related work in your conveyancing.

I work for a reputable estate agency in Cardigan where we see a few flat sales put at risk due to short leases. I have been given contradictory information from local Cardigan conveyancing solicitors. Can you clarify whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

Provided that 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 buyer can avoid having to sit tight for 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 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 buyer.

Cardigan Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

What restrictions are there in the Cardigan Lease? In the main the cost for major works are not included within service charges, although there some managing agents in Cardigan require leasehold owners to pay into a sinking fund created for the specific purpose of establishing a fund for major repairs or maintenance. It is important to be aware if window replacement or some other significant cost is due shortly to be shared by the tenants and will dramatically increase the the maintenance fees or necessitate a one time invoice.