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

You are right in these requests have nothing to do with conveyancing in Newark on Trent. Nowadays you can not complete any conveyancing deal if you have not handing over proof of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a council tax bill. Remember if you are supplying your driving licence as evidence of identification it needs to be both the paper part and photo card part, one is not acceptable in the absence of the other.

Evidence of your source of funds is necessary in accordance with the Money Laundering Regulations. Please do not be offended when you are asked to produce this as your lawyer will need to retain this information on file. Your Newark on Trent conveyancing lawyer will need to see evidence of proof of funds before they are able to accept any funds from you into their client account and they will also ask additional queries regarding the source of funds.

Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Newark on Trent?

There are two types of lawyers who can carry out conveyancing in Newark on Trent namely CLC regulated conveyancers or solicitors. The two can administer the legal services that you need to complete the sale or acquisition of property. Both are duty bound to execute Newark on Trent conveyancing to the same standards and guidelines so you can be safe in the knowledge that your conveyancing will be professionally carried out and that all requirements and steps will be accurately followed.

I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Newark on Trent bank branch on various occasions and was told it does not impact the mortgage offer and they will lend. My Newark on Trent conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. I simply don't know who is right.

Provided that the property lawyer is on the lender panel, they must comply with the CML Handbook provisions for the lender. 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.

About to purchase flat in Newark on Trent. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.

They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Newark on Trent conveyancer is on the UBS conveyancing panel.

I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Newark on Trent is the location of the property. Is there any guidance you can impart?

Flying freeholds in Newark on Trent 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 Newark on Trent you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Newark on Trent 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'm refinancing my existing property to a BTL mortgage with The Royal Bank of Scotland and intend to use the remaining equity towards a second property. The area we are talking about is Newark on Trent. Will your lawyers be able to act for the two banks and link together the conveyances?

Do use our comparison tool on this page to check that the lawyers are on the appropriate lender panels. Having checked that they are your solicitor will be able to simultaneously deal with the two conveyancing matters but you should talk with you lawyer and make clear your expectations and requirements.

What are the frequently found problems that you witness in leases for Newark on Trent properties?

Leasehold conveyancing in Newark on Trent is not unique. All leases are unique and drafting errors can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

Insurance obligations Maintenance charge proportions which don’t add up to the correct percentage

You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Norwich and Peterborough Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.

I purchased a 1st floor flat in Newark on Trent, conveyancing was carried out April 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Newark on Trent with a long lease are worth £181,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease ceases on 21st October 2076

With just 51 years unexpired we estimate the premium for your lease extension to range between £30,400 and £35,200 plus plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.