What does my ID and proof of funds have anything to do with my conveyancing in Bracknell? Is this really necessary?

To satisfy the Money Laundering Regulations any Bracknell conveyancing firm will require proof of identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility bill showing where you reside.

In accordance with Money Laundering Regulations, conveyancers are obliged by law to validate not just the identity of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this may lead to your solicitor terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.

Your conveyancers will have an obligation to notify the appropriate authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.

We previously selected conveyancers located in Bracknell on the UBS solicitor approved list. They are now charging me a further fee for the legal aspects of the UBS mortgage. Is this an additional conveyancing fee specified by UBS?

Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your lawyer is entitled to levy a fee for this. The charge is not dictated by UBS but by your Bracknell conveyancer. Some firms on the UBS panel will charge an ‘acting for lender’ fee and others do not.

Principality have agreed my mortgage in principle, my offer on a house in Bracknell has been accepted, what happens next?

The property agent will wish to be informed of your lawyer's details (ensure that the property lawyers are on the bank’s panel). Telephone Principality or the financial adviser and finalise any appropriate documentation. Principality will sellect a valuer who will get in contact with the estate agent or owners to arrange an appointment. Once conducted (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Principality will send the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Bracknell.

My offer on a property in Bracknell has been agreed to, but there is a chain. The sellers have placed an offer on a property, however it’s not yet agreed to, and are looking at other flats booked. I have instructed a local conveyancing solicitor in Bracknell. What do I do now? At what stage should I apply for the mortgage with Bank of Ireland?

It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of one thousand pounds, then valuation, Bracknell conveyancing search charges, etc). First, you must ensure that your lawyer is on the Bank of Ireland conveyancing panel. Concerning the next phase this very much depends on the circumstances of your transaction, desire for the property and on the state of the market. During a buoyant market many buyers will apply for a home loan with Bank of Ireland and arrange for the valuation and only if it was satisfactory would they request their conveyancer to press on with searches.

I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Bracknell is where the house is located. Can you shed any light on this issue?

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

I am 17 days into a freehold purchase having been referred to conveyancers by the estate agent to do our conveyancing in Bracknell. I am am very disappointed with the level of service. Can you help me find new conveyancers?

They would need to be very poor to suggest diss instructing them. Has your mortgage offer been issued? If so you will need to advise them of the new contact details and ensure the loan are issued to the new lawyers. Your new conveyancer should be on the banks approved list to avoid added charges and complications. That should be your first question of the new conveyancers. The search tool should assist you in finding a bank approved solicitor for your home move in Bracknell

Having checked my lease I have discovered that there are only 62 years remaining on my lease in Bracknell. I need to extend my lease but my freeholder is can not be found. What should I do?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have used your best endeavours to locate the landlord. For most situations an enquiry agent may be helpful to carry out a search and to produce a report which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Bracknell.

I invested in buying a leasehold flat in Bracknell, conveyancing formalities finalised in 2000. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Bracknell with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease finishes on 21st October 2087

You have 62 years remaining on your lease we estimate the price of your lease extension to span between £17,100 and £19,800 as well as costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive 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 should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.