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

Newton Abbot conveyancing solicitors and indeed property lawyers throughout the UK have a duty under money laundering regulations to check the ID of any client with a view to satisfy themselves that clients are who they say they are.

Conveyancing clients will need to produce two forms of certified ID; proof of ID (typically 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 accordance with the money laundering regulations as conveyancers are mandated to check that the money you are using to purchase a property (be it the exchange deposit or the total purchase monies if you are a cash purchaser) has come from an acceptable source (such as an inheritance) rather than the proceeds of criminal behaviour.

I am considering applying for a Yorkshire BS mortgage for purchase of a new build (under development) in Newton Abbot with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Yorkshire BS ?

There is nothing to stop you using your solicitor, but Yorkshire BS will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.

I am buying a new build house in Newton Abbot with a loan from Britannia. The sellers refused to budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent advised me not reveal to my conveyancer about this extras as it could put at risk my loan with the lender. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the developer 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.

Due to the guidance of my in-laws I had a survey completed on a property in Newton Abbot before retaining lawyers. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies tend not issue a mortgage on this type of premises.

It depends who your proposed lender is. HSBC has different instructions from Halifax. If you call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Newton Abbot. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Newton Abbot to see if the conveyancing will be more expensive.

What advice can you give us when it comes to choosing a Newton Abbot conveyancing practice to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Newton Abbot conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggest that you speak with several firms including non Newton Abbot conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be useful:

What volume of lease extensions has the firm conducted in Newton Abbot in the last 12 months?

Newton Abbot Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

Be sure to enquire if there is anything that is prohibited in the lease. By way of example plenty of leases prohibit pets being permitted in in a block in Newton Abbot. If you like the propertyin Newton Abbot yet your cat can’t move with you then you have a very hard decision. The prefered form of lease arrangement is a share of the freehold. In this scenario the lessees benefit from control and notwithstanding that a managing agent is often employed if it is larger than a house conversion, the managing agent is directed by the tenants. What prohibitions are contained in the Newton Abbot Lease?