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

Leatherhead conveyancing solicitors and indeed property practitioners accross the UK have an obligation under money laundering regulations to verify the identity of any client in order to ensure that clients are who they say they are.

Conveyancing clients are required to disclose two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and evidence of address (usually a Bank Statement no more than three months).

Evidence of source of funds is also required in compliance with the money laundering statutes as conveyancers are duty bound to investigate that the money you are using to buy a property (be it the exchange deposit or the full purchase price where you are buying mortgage free) has come from an acceptable source (such as employment savings) and is not the fruits of criminal behaviour.

We're in Leatherhead, First timers buying with a mortgage (lender is Bank of Ireland , and our lawyer is on the Bank of Ireland conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the Bank of Ireland conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.

How does conveyancing in Leatherhead differ for new build properties?

Most buyers of new build or newly converted property in Leatherhead contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is finished. This is because builders in Leatherhead typically buy the real estate, 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 conveyancing solicitors 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 Leatherhead or who has acted in the same development.

I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Leatherhead is where the house is located. Can you offer any advice?

Flying freeholds in Leatherhead are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Leatherhead you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Leatherhead 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.

We're FTB’s - agreed a price, yet the estate agent has warned us that the owners will only go ahead if we instruct the agent's preferred lawyers as they need an ‘expedited deal’. We would rather use a family conveyancer with experience of conveyancing in Leatherhead

We suspect that the seller is unaware of this requirement. Should the vendor desire ‘a quick sale', taking such a hostile approach to a genuine buyer is not the way to achieve this. Bypass the agents and go straight to the owners and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you will continue to instruct your own,trusted Leatherhead conveyancing solicitors - not the ones that will earn their estate agent a introducer fee or hit his conveyancing figures pre-set by senior management.