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

It is indeed that case that these requests have nothing to do with conveyancing in Glenfield. Nowadays you can not complete any conveyancing transaction in the absence submitting proof of your identity. Ordinarily this takes the form of a either your passport or driving licence and a bank statement. Remember if you are supplying your driving licence as proof of identification it must be both the paper element as well as the photo card part, one is not satisfactory without the other.

Verification of the origin of money is required in accordance with the Money Laundering Regulations. Don’t be offended when when this is requested of you as your conveyancing solicitor will need to retain this information on record. Your Glenfield conveyancing solicitor will need to see evidence of proof of funds prior to accepting any money from you into their client account and they may also ask additional questions regarding the origin of funds.

My wife and I are buying a property in Glenfield. I might seem paranoid but how we can trust a solicitor? At some point we will need to put our life savings into their account. What is the protection we have from them run away with our monies?

Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.

We have agreed to purchase a house in Glenfield. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Clydesdale be concerned?

As your lender is Clydesdale your lawyer must comply with the formal requirements set out in Section two of UK Finance Lenders’ Handbook for Clydesdale. The CML Handbook sets out minimum requirements for solar panel roof-space leases, and lawyers are required to report to Clydesdale where a lease fails to comply with these specifications. The specifications relate to the installation of panels on properties countrywide and is not isolated to Glenfield.

About to purchase maisonette in Glenfield. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Principality 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 Glenfield property lawyer is on the Principality conveyancing panel.

I have been on the look out for a flat up to £195,000 and identified one near me in Glenfield I like with a park and transport links nearby, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Glenfield in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?

If you need a home loan the remaining unexpired lease term will be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.

My wife and I may need to sub-let our Glenfield basement flat for a while due to taking a sabbatical. We used a Glenfield conveyancing practice in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?

A lease dictates the relationship between the landlord and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Glenfield do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

Glenfield Leasehold Conveyancing - Examples of Queries before Purchasing

Does the lease contain onerous restrictions? Is anyone aware of any major works on the horizon that will likely add a premium to the service fees? Are any of leasehold owners in arrears of their service charge liability?

I am buying a flat with all finances in place. I have provided solicitor with 2 separate forms of photo identification, bank statement, endless utility bills. Now he wants a copy from a probate lawyer advising that the money is legitimate and that it has come from inheritance and not via illegitimate means.

In today’s world you will not be able to complete any Glenfield conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Proof of your source of funds is required under Money Laundering Regulations.