What does my ID and proof of funds have anything to do with my conveyancing in Thorne? Why is this being asked of me?

To satisfy the Money Laundering Regulations any Thorne conveyancing firm will require proof of identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility bill evidencing where you live.

In accordance with Money Laundering Regulations, property lawyers are duty bound to check not just the ID of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this may lead to your solicitor cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.

Your conveyancers are duty bound to notify the appropriate authorities should they believe that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.

Me and my partner are buying a house in Thorne. I might seem paranoid but how we can trust a lawyer? At some point we will need to send money into their account. What is the protection we have from them run away with our deposit?

Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.

My aunt advised me that in buying a property in Thorne there could be a number of restrictions prohibiting external alterations to the property. Is this right?

There are anumerous of properties in Thorne which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Thorne should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

It is not clear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Thorne bank branch on numerous occasions and was told they are content with the situation and they will lend. My Thorne conveyancing solicitor - who is on the lender conveyancing panel- called and was told they would not lend based on their published requirements. Who do I believe?

As long as the lawyer is on the lender approved list, they must adhere to the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.

I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what should have been a quick, no chain conveyancing. Thorne is the location of the property. Can you shed any light on this issue?

Flying freeholds in Thorne are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Thorne you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Thorne 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 premises.

I have recently realised that I have 72 years left on my lease in Thorne. I need to extend my lease but my freeholder is absent. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. For most situations an enquiry agent should be useful to try and locate and to produce a report to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Thorne.

I acquired a ground floor flat in Thorne, conveyancing having been completed in 1997. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Thorne with an extended lease are worth £181,000. The ground rent is £55 charged once a year. The lease expires on 21st October 2069

With only 50 years remaining on your lease we estimate the price of your lease extension to range between £32,300 and £37,400 plus professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

I am about to exchange buying a property in Thorne but as a consequence of wreckage from the recent storms I have negotiated reparation from the current proprietors of four thousand pounds taking the form of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process however the mortgage company will not agree to this. Should they have been notified?

The property lawyer that is on a bank conveyancing panel is required to advise the lender of any amendments to the sale price. If you did not allow your conveyancing practitioner to notify the reduction to your bank then they would have to refrain from representing you and the mortgage company.