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

It is indeed that case that these requests have nothing to do with conveyancing in Sychdyn. Nowadays you can not complete any conveyancing process in the absence handing over proof of your identity. This usually takes the form of a either your passport or driving licence plus a council tax bill. Please note that if you are supplying your driving licence as evidence of ID it needs to be both the paper section as well as the photo card part, one is not sufficient in the absence of the other.

Proof of your source of money is mandated under Money Laundering Regulations. You should not be offended when you are asked to produce this as your conveyancing solicitor must retain this information on file. Your Sychdyn conveyancing lawyer will need to see evidence of proof of funds prior to accepting any funds from you into their client account and they should also ask further questions regarding the origin of monies.

We're in Sychdyn, FTBs buying with a mortgage (lender is Clydesdale , and our lawyer is on the Clydesdale conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the Clydesdale conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.

five months have gone by since my purchase conveyancing in Sychdyn concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

How does conveyancing in Sychdyn differ for new build properties?

Most buyers of new build residence in Sychdyn contact us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is finished. This is because developers in Sychdyn typically purchase 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 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 Sychdyn or who has acted in the same development.

I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a straight forward, chain free conveyancing. Sychdyn is the location of the property. What do you suggest?

Flying freeholds in Sychdyn are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Sychdyn you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sychdyn may determine 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 residence.