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

Cowley conveyancing solicitors and indeed property lawyers accross the UK have an obligation 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 ID; proof of ID (typically a Passport or Driving Licence) and evidence of address (typically a Bank Statement no more than three months).

Proof of source of funds is also necessary in accordance with the money laundering regulations as lawyers are mandated to investigate that the funds you are using to buy a property (be it the exchange deposit or the full purchase amount if you are buying without a mortgage) has originated from a reputable source (such as employment savings) rather than the proceeds of criminal activity.

Is there a search tool that I can utilise to discover of the solicitor carrying out my conveyancing in Cowley is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for National Westminster Bank thus spending £192.00 in supplemental legal costs.

Please do take advantage of the find a conveyancing panel solicitor tool on this web page. Pick the lender and type ‘Cowley’ or your location and you will discover numerous solicitors based in Cowley or nearest you.

I need some fast conveyancing in Cowley as I have an ultimatum to exchange contracts within 3 weeks. A home loan is not required. Can I escape the need for conveyancing searches to save fees and time?

If.Given you are are a cash purchaser you are at free not to do searches although no law firm would recommend that you don't. With plenty of history conveyancing in Cowley the following are instances of what can appear and therefore affect the marketability of the property: Enforcement Actions, Overdue Charges, Outstanding Grants, Unadopted Roads,...

Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what should have been a quick, chain free conveyancing. Cowley is where the house is located. Is there any guidance you can give?

Flying freeholds in Cowley are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cowley you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cowley 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 property.

I am tempted by the attractive purchase price for a two maisonettes in Cowley both have about forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a prescribed time frame. As a lease shortens the value of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field.

I have given up trying to purchase the freehold in Cowley. Can this matter be resolved via the Leasehold Valuation Tribunal?

You certainly can. We are happy to put you in touch with a Cowley conveyancing firm who can help.

An example of a Freehold Enfranchisement case for a Cowley premises is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case affected 2 flats. The unexpired term was 69 years.