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

To satisfy the Money Laundering Regulations any Axbridge conveyancing firm will require evidence of your identity in all conveyancing matters. This is usually satisfied by provision of a passport and an original bank statement or utility bill evidencing your correct address.

In accordance with Money Laundering Regulations, property lawyers are duty bound to validate not only the ID of conveyancing clients but also the source of monies that they receive in respect of any matter. Refusal to disclose this may result in your lawyer terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.

Your property lawyers will have an obligation to inform the relevant authorities should they consider that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.

I need some fast conveyancing in Axbridge as I am under a deadline to complete in less than 3 weeks. Fortunately I do not require a mortgage. Can I escape the need for conveyancing searches to save fees and time?

If.Given you are are a cash buyer you have the choice not to do searches although no law firm would suggest that you don't. With plenty of history conveyancing in Axbridge the following are instances of issues that can be revealed and therefore impact future mortgageability: Enforcement Notices, Overdue Charges, Overdue Grants, Railway Schemes,...

I own a terraced Victorian house in Axbridge. Conveyancing lawyer represented me and Godiva Mortgages Ltd. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?

You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Axbridge and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with the conveyancing practitioner who conducted the purchase.

I am purchasing my first flat in Axbridge benefiting from help to buy. The developers would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not inform my solicitor about the extras as it may impact my loan with TSB. Do I keep my lawyer in the dark?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I am looking for a flat up to £195,000 and identified one round the corner in Axbridge I like with a park and station in the vicinity, the downside is that it's only got 49 years on the lease. There is not much else in Axbridge for this price, so just wondered if I would be making a mistake acquiring a short lease?

Should you need a home loan the remaining unexpired lease term will be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.