In the event thatI were to acquire a simple residential homein Silverstone for cash and dispense with a survey and no conveyancing searches how much could I expect to have to pay for conveyancing in Silverstone?

Any savings you would achieve would be limited to the Silverstone conveyancing searches. The conveyancing practitioner still be obliged to do everything else - money laundering, liaising with the sellers property lawyer, SDLT submission, register the ownership etc. You might save a bit for them not having to register a mortgage but it won't be a lot.

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

In order to comply with Money Laundering Regulations any Silverstone conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility account evidencing your correct address.

In accordance with Money Laundering Regulations, conveyancers are duty bound to validate not just the ID of conveyancing clients but also the origin of monies that they receive in respect of any matter. An unwillingness to disclose this may result in your conveyancer cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.

Your conveyancers are duty bound to inform the appropriate authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.

My grandfather passed away 10 months ago and as sole heir and executor I was left the house in Silverstone. The house had a small mortgage remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Nationwide, pay off the mortgage. Is this allowed?

If you intend to re-mortgage then Nationwide will require that you use a conveyancer on the Nationwide conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nationwide conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nationwide mortgage is registered as a charge at the Land Registry.

If you had a top tip for selecting a conveyancing solicitor in Silverstone what would it be?

Do not opt for the lowest Silverstone conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.

I can not fathom if my lender requires a lease extension. I have called into my local Silverstone bank branch on various occasions and was told it does not impact the mortgage offer and they would lend. My Silverstone conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?

Your conveyancer must follow the Council of Mortgage Lenders’ Handbook Part 2 conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

I recently had an offer accepted on a house in Silverstone. My financial adviser pressured me to appoint their conveyancing practitioner. I paid an on account payment of £225. Shortly after, the solicitor contacted me embarrassingly acknowledging that they were not on the Aldermore conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the Aldermore panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.

Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Silverstone is where the house is located. Can you offer any guidance?

Flying freeholds in Silverstone are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Silverstone you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Silverstone 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.