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

Turvey conveyancing solicitors as well as nationwide property practitioners accross the UK have an obligation under Anti-terror and anti-money-laundering rules to verify the identity of any client in order to ensure that clients are who they say they are.

Conveyancing clients will need to disclose two forms of certified identification; proof of ID (usually a Passport or Driving Licence) and proof of address (usually a Utility Bill less than 3 months old).

Proof of the origin of monies is also required in compliance with the money laundering statutes as solicitors are mandated to investigate that the funds you are utilising to acquire a property (be it the exchange deposit or the full purchase amount where you are buying without a mortgage) has come from a reputable source (such as an inheritance) rather than the fruits of illegitimate behaviour.

How does conveyancing in Turvey differ for newly converted properties?

Most buyers of new build or newly converted property in Turvey contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is built. This is because house builders in Turvey tend to purchase the land, 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 property lawyers 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 Turvey or who has acted in the same development.

Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a quick, chain free conveyancing. Turvey is where the house is located. Is there any guidance you can give?

Flying freeholds in Turvey are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Turvey you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Turvey 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.

Is it possible to transfer to a new conveyancer as I have to choose a firm on the Leeds Building Society conveyancing panel. I was using a local conveyancing solicitor in Turvey five minutes from me but she is not accepted by Leeds Building Society

We will our best to assist in finding you a conveyancing solicitor in Turvey on the Leeds Building Society panel. Please note that the solicitors that we on the directory do not pay us commission if you instruct them and are regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Turvey. In utilising search facility on this page, you can scrutinise fees for conveyancing solicitors in Turvey and throughout England and Wales.

I am in need of some leasehold conveyancing in Turvey. Before I get started I would like to find out the unexpired term of the lease.

If the lease is registered - and almost all are in Turvey - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Turvey Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing

Please note that where the lease has less than eighty years it will impact the value of the flat. Check with your mortgage company that they are willing to to proceed given the lease term. A short lease means that you will most likely have to extend the lease at some point and it is worth discovering what this will be. For most Turveylease extensions you will be required to have been the owner of the property for 24 months before you are legally able to extend the lease. Best to be warned if window replacement or some other major work is pending to be shared amongst the leasehold owners and may well materially increase the the maintenance charges or result in a specific invoice. Are there any major works in the planning that could increase the maintenance costs?