In what way does my ID and proof of funds have anything to do with my conveyancing in North Shields and Tynemouth? What am I being asked for?

North Shields and Tynemouth conveyancing solicitors as well as nationwide property lawyers accross the UK have a duty under money laundering regulations to check the ID of any client in order to ensure that clients are who they say they are.

Conveyancing clients are required to supply two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill no more than three months).

Proof of the origin of monies is also required in compliance with the money laundering regulations as conveyancers are required to check that the funds you are utilising to acquire a property (be it the exchange deposit or the total purchase monies where you are a cash purchaser) has originated from legitimate source (such as employment savings) and is not the product of illegitimate behaviour.

I am buying my first flat in North Shields and Tynemouth with the aid of help to buy. The builders refused to reduce the price so I negotiated £7000 of extras instead. The house builders rep advised me not to tell my solicitor about this side-deal as it may put at risk my loan with the lender. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Over the last few months I have been searching for a flat up to £195,000 and found one near me in North Shields and Tynemouth I like with open areas and transport links in the vicinity, however it's only got 51 years unexpired on the lease. There is not much else in North Shields and Tynemouth suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?

If you require a mortgage the shortness of the lease will be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.

I'm remortgaging my existing house to a buy to let mortgage with National Westminster Bank and intend to use the remaining equity towards another property. The location we are talking about is North Shields and Tynemouth. Will your lawyers be able to act for the two mortgage companies and link together the transactions?

Make use of our comparison tool on this page to check that the solicitors are approved by both banks. On the basis that they are your conveyancer will be able to connect the two conveyancing matters but you should have a chat with you lawyer and make apparent your desired outcome and needs.

My husband and I are novice buyers - had an offer accepted, yet the selling agent advised that the vendor will only go ahead if we appoint their preferred solicitors as they want an ‘expedited deal’. Our preferred option is to instruct a family solicitor accustomed to conveyancing in North Shields and Tynemouth

It is highly unlikely the owners are driving this. Should the seller require ‘a quick sale', turning down a serious purchaser is likely to cause more damage than good. Try to communicate with the owners directly and explain that (a)you are motivated buyers (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you intend to use your own,trusted North Shields and Tynemouth conveyancing firm - not the ones that will provide the estate agent a commission or hit his conveyancing targets demanded by HQ.