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

Markyate conveyancing solicitors and indeed property lawyers accross the UK have an obligation under Anti-terror and anti-money-laundering rules to check the identity of any client in order to ensure that clients are who they say they are.

Conveyancing clients will need to provide two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and evidence of address (usually a Bank Statement no more than three months).

Confirmation of source of monies is also required under the money laundering regulations as solicitors are required to ensure that the funds you are utilising to purchase a property (whether it be the deposit for exchange or the total purchase monies where you are a cash purchaser) has come from a reputable source (such as employment savings) and is not the product of illegitimate behaviour.

We're in Markyate, FTBs buying with a mortgage (lender is Co-operative , and our solicitor is on the Co-operative conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the Co-operative conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner 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.

I require quick conveyancing in Markyate as I am under pressure to sign on the dotted line within one month. A mortgage is not required. Can I escape the need for conveyancing searches to save fees and time?

As you are not taking a mortgage you are at free not to have searches conducted although no conveyancer would suggest that you don't. With plenty of history conveyancing in Markyate the following are examples of what can arise and adversely impact market value: Enforcement Actions, Overdue Fees, Outstanding Grants, Road Schemes,...

My step-father has recommend that I use his conveyancing solicitors in Markyate. Do I follow his recommendation?

There are no two ways about it the best way to select a conveyancing solicitor is to get feedback from friends or relatives who have used the solicitor you're contemplating using.

Estate agents have just been given the go-ahead to market my ground floor apartment in Markyate. Conveyancing has not commenced, however I have recently received a yearly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should discharge the service charge as you normally would given that all ground rent and service payments will be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I inherited a studio flat in Markyate, conveyancing having been completed April 2002. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Markyate with over 90 years remaining are worth £192,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ceases on 21st October 2079

With 54 years remaining on your lease we estimate the premium for your lease extension to be between £32,300 and £37,400 as well as legals.

The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.