All was ready to complete my purchase in Chadderton next Tuesday. My lawyer now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the mortgage company. What does the insurance need to cover?

All property lawyers on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook conditions. These obligations are not specific to conveyancing in Chadderton.

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

To satisfy the Money Laundering Regulations any Chadderton 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 account evidencing where you reside.

In accordance with Money Laundering Regulations, property lawyers are required to check not just the ID of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this will result in your solicitor terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.

Your property lawyers are duty bound to make a disclosure to the appropriate authorities should they believe that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.

I have been told that property searches are the main reason for delay in Chadderton house deals. Is this right?

The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances during the legal transfer of property. Searches are not likely to feature in any delay in conveyancing in Chadderton.

2 months have gone by following my purchase conveyancing in Chadderton completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what was supposed to be a quick, no chain conveyancing. Chadderton is the location of the property. Is there any advice you can give?

Flying freeholds in Chadderton are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chadderton you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chadderton 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.