In what way does my ID and proof of funds have anything to do with my conveyancing in Hinckley? Why is this being asked of me?

Hinckley conveyancing solicitors and indeed property lawyers accross the UK have a duty under money laundering regulations to check the ID of any client with a view to ensure that clients are who they say they are.

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

Confirmation of the origin of funds is also required in compliance with the money laundering laws as solicitors are required to ensure that the money you are utilising to buy a property (whether it be the deposit for exchange or the full purchase amount where you are a cash purchaser) has come from legitimate source (such as employment savings) as opposed to the fruits of illegitimate behaviour.

Various online forums that I have come across warn that are the number one cause of obstruction in Hinckley conveyancing transactions. Is that correct?

The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances during the legal transfer of property. Searches are not likely to feature in any slowing down conveyancing in Hinckley.

It has been three months following my purchase conveyancing in Hinckley concluded. I have checked the Land Registry website 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.

Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what should have been a quick, no chain conveyancing. Hinckley is the location of the property. What do you suggest?

Flying freeholds in Hinckley are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hinckley you would need to get your solicitor to go 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 Hinckley may determine 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.

I'm refinancing my primary house to a BTL loan with Skipton Building Society and I will use the ballance of the raised equity as a deposit on another house. The location we are interested in is Hinckley. Will your lawyers be able to act for the two banks and link together the two deals?

Make use of our search tool on this site to ensure that the conveyancers are approved by both mortgage companies. Having checked that they are the lawyer will be able to connect the two transactions but you should have a chat with you solicitor and make apparent your expectations and requirements.