In what way does my ID and proof of funds have anything to do with my conveyancing in Great Coates? Is this really necessary?

To satisfy the Money Laundering Regulations any Great Coates conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility bill evidencing your correct address.

Under Money Laundering Regulations, conveyancers are required to validate not just the ID of conveyancing clients but also the source of monies that they receive in respect of any matter. Refusal to disclose this will lead to your solicitor cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.

Your conveyancers will have an obligation to inform the appropriate authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.

three months have gone by following my purchase conveyancing in Great Coates took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. 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.

I've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a quick, no chain conveyancing. Great Coates is where the house is located. Can you shed any light on this issue?

Flying freeholds in Great Coates are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Great Coates you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Great Coates 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 residence.

How do I locate a Great Coates law firm on the Accord Mortgages Ltd conveyancing panel? I have wheels and am prepared to travel upto 25miles to meet the conveyancer.

Feel free to make use of the tool on this page. Please select a mortgage company and your location and you will see a number of Great Coates conveyancing lawyers located nearest you. We have detailed some Great Coates conveyancing firms towards the end of this page and you can call them to see if they are on the Accord Mortgages Ltd approved list

I am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Great Coates. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

The majority of houses in Great Coates are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Great Coates so you should seriously consider looking for a Great Coates conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your conveyancer will report to you on the legal implications.

Great Coates Leasehold Conveyancing - Examples of Questions you should consider before buying

How much is the maintenance charge and ground rent on the apartment? Are any of leasehold owners in dispute over their service charge payments? Its a good idea to discover as much as possible concerning the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to every day matters like the upkeep of the communal areas. You should not be shy to ask prospective neighbours whether they are happy with their management. On a final note, find out the dates that you are obliged pay the maintenance charge to the managing agents and specifically what it includes.