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

You are right in these requests have nothing to do with conveyancing in Grimsby. However these days you will not be able to complete any conveyancing transaction in the absence handing over 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 providing your driving licence as evidence of identification it must be both the paper part and photo card part, one is not sufficient in the absence of the other.

Proof of the source of funds is necessary under Money Laundering Regulations. You should not be offended when you are asked to produce this as your conveyancing solicitor must have this information on file. Your Grimsby conveyancing practitioner will need to see evidence of proof of funds before they are able to accept any money from you into their client account and they may also ask additional questions regarding the source of funds.

I am buying a new build flat in Grimsby. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?

Leaving aside the complexities and merits of DIY conveyancing in Grimsby you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Grimsby.

How does conveyancing in Grimsby differ for new build properties?

Most buyers of new build residence in Grimsby come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is finished. This is because builders in Grimsby tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Grimsby or who has acted in the same development.

I'm remortgaging my current home to a BTL mortgage with National Westminster Bank and intend to use the remaining equity as a down payment on another property. The location we are talking about is Grimsby. Will your solicitors be able to act for the two banks and link together the conveyances?

Do use our comparison tool on this site to be sure that the conveyancers are on the appropriate lender panels. Assuming that they are your lawyer will be able to tie up the two conveyancing matters but you should have a chat with you conveyancer and make clear your expectations and requirements.

Can you provide any top tips for leasehold conveyancing in Grimsby with the aim of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Grimsby can be bypassed if you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information which will be required by the purchasers’ solicitors.
The majority of landlords or managing agents in Grimsby charge for providing management packs for a leasehold home. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Grimsby. If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? Grimsby leases often stipulate that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord approving such changes. If you dont have the approvals to hand you should not communicate with the landlord without checking with your solicitor before hand. If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than unresolved. You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 80 years. It is therefore important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

I invested in buying a 1 bedroom flat in Grimsby, conveyancing having been completed August 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Grimsby with an extended lease are worth £192,000. The ground rent is £55 invoiced every year. The lease terminates on 21st October 2078

With 54 years remaining on your lease the likely cost is going to span between £32,300 and £37,400 plus costs.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.