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

Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with before they can accept their conveyancing instruction. The Client Care letter that you need to sign will no doubt reaffirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you are unwilling to provide identification documents, your solicitor would not be able to accept instructions from you.

My Conveyancer in Martlesham is not listed on the Nottingham Building Society Solicitor Panel. Is it possible for me to use my prefered solicitor even though they are excluded from the Nottingham Building Society panel of approved conveyancing solicitors?

The limited options available to you here include:

1. Complete the purchase with your preferred Martlesham solicitors but Nottingham Building Society will need to use a solicitor on their panel. This will inevitably rack up the total conveyancing fees as well as result in delays.
2. Find a new lawyer to act in the conveyancing, not forgetting to check they are Nottingham Building Society approved.
3. Try to convince your Nottingham Building Society based solicitor to try to join the Nottingham Building Society panel

This question may be naive but I am unseasoned as a 1st time buyer of a two bedroom flat in Martlesham. Do I collect the keys to the premises on the completion date from my solicitor? If this is the case, I will instruct a local conveyancing solicitor in Martlesham?

There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the seller's solicitors, and once they have received this, you will be able to pick up the keys from the Estate Agents and start moving into the property. This tends to happen between 1 and 3pm.

Is it the case that all Martlesham solicitor practices on the Virgin Money conveyancing panel are regulated by the SRA?

As solicitors, in order to be on the Virgin Money conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. The majority of lenders do allow licenced conveyancers on their panel in which case such practice would be regulated by the CLC.

I have paid off my mortgage with Yorkshire BS. I assume I don't need a Martlesham conveyancer on the Yorkshire BS panel to discharge the mortgage at the Land Registry. Please confirm.

If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Yorkshire BS has sent the Land Registry the discharge electronically, and
3. Yorkshire BS has instructed the Land Registry to do so

What does commercial conveyancing in Martlesham cover?

Commercial conveyancing in Martlesham incorporates a broad range of guidance, provided by regulated solicitors, relating to business premises. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.

I work for a reputable estate agent office in Martlesham where we have experienced a few leasehold sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Martlesham conveyancing firms. Could you confirm whether the seller of a flat can start the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Leasehold Conveyancing in Martlesham - A selection of Questions you should ask Prior to buying

Does this lease have more than 90 years unexpired? Does the lease have onerous restrictions? How much is the yearly service fee and ground rent?