I am need of leasehold conveyancing for an apartment in a fairly new development (five years old) in North Wembley. 95% of the properties are already sold. Do I need carry out the local searches for my conveyancing in North Wembley?

If you are buying a property with the assistance of a loan, your bank will insist on some (many) of the searches so you'll have no choice. If not, then North Wembley conveyancing searches are optional. Your lawyer, will 'advise', perhaps in the strongest possible terms, that you should have the searches done, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you choose to instruct your lawyer to proceed without searches then your lawyer will have to follow your instructions or ask you to appoint a different lawyer for your conveyancing in North Wembley.

I am the registered owner of a freehold premises in North Wembley but nevertheless charged rent, why is this and what is this?

It is rare for properties in North Wembley and has limited impact for conveyancing in North Wembley but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.

Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.

I am considering applying for a Coventry BS mortgage for purchase of a new build (under development) in North Wembley with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Coventry BS ?

There is nothing to stop you using your solicitor, but Coventry BS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.

How does conveyancing in North Wembley differ for new build properties?

Most buyers of new build property in North Wembley approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is completed. This is because house builders in North Wembley tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in North Wembley or who has acted in the same development.

My solicitor in North Wembley is asking me for identification documents asserting that this forms part of his retainer as a solicitor on the mortgage company Solicitor panel. Can this be correct?

Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the mortgage company. This is not unique to conveyancing in North Wembley