What does my ID and proof of funds have anything to do with my conveyancing in Farnworth? Why is this being asked of me?

Farnworth conveyancing solicitors and indeed property practitioners throughout the UK have a duty under Anti-terror and anti-money-laundering rules to check the identity of any client with a view to satisfy themselves that clients are who they say they are.

Conveyancing clients will need to supply two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and evidence of address (usually a Bank Statement less than 3 months old).

Confirmation of source of monies is also required under the money laundering statutes as solicitors are duty bound to ensure that the funds you are using to acquire a property (whether it be the deposit for exchange or the total purchase amount where you are buying without a mortgage) has originated from legitimate source (such as employment savings) rather than the proceeds of criminal behaviour.

The Farnworth conveyancing firm that just started acting on my purchase in Farnworth have without warning shut down. They were on acting for me because I had to have a lawyer on the HSBC conveyancing panel and my previous Farnworth lawyer was not. I wrote them a cheque for two hundred pounds in advance. What should be my next steps?

If you have an estate agent involved then let them know straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the HSBC conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help.

Do I select a Licenced Conveyancer or Solicitor for conveyancing in Farnworth?

Two types of professional can execute conveyancing in Farnworth namely CLC regulated conveyancers or solicitors. The two can administer the legal services that you need to complete the disposal or purchase of property. They are both duty bound to carry out Farnworth conveyancing on similar standards and guidelines so you may be safe in the knowledge that your conveyancing will be properly administered and that all necessary procedures should be accurately adhered to.

I am the only beneficiary of my late mum's estate and I have everything in my name alone, including the house in Farnworth. Conveyancing formalities meant that the Land Registry date was in March. I plan to dispose of the property. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship could be treated the same way as though I had purchased the property in March. Will no one buy the property for half a year?

The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. How sensible a view lenders take of it, depend on the bank as this provision principally exists to pick up on subsales or the flipping of property.

We had appointed solicitors based in Farnworth on the Nottingham solicitor approved list. They are now charging me an additional charge for handling the Nottingham mortgage. Is this an additional conveyancing fee set by Nottingham?

As unfair as it may seem, as long as it’s in their Terms and Conditions or Quote then yes your lawyer may levy a fee for this. This charge is not dictated by Nottingham but by your Farnworth conveyancing practitioner. Numerous firms on the Nottingham panel will quote an ‘acting for lender’ fee and others do not.

Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Farnworth is the location of the property. What do you suggest?

Flying freeholds in Farnworth are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Farnworth you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Farnworth may decide 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 property.

Back In 2000, I bought a leasehold house in Farnworth. Conveyancing and Aldermore mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Farnworth who previously acted has now retired. Any advice?

First contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Farnworth conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I inherited a 1 bedroom flat in Farnworth, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Comparable properties in Farnworth with over 90 years remaining are worth £201,000. The ground rent is £45 invoiced annually. The lease runs out on 21st October 2089

With just 65 years unexpired the likely cost is going to range between £13,300 and £15,400 plus professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.