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

Totland conveyancing solicitors as well as nationwide property practitioners throughout the UK have an obligation under money laundering regulations to check the identity of any client in order to satisfy themselves that clients are who they say they are.

Conveyancing clients are required to produce two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and evidence of address (usually a Utility Bill less than 3 months old).

Evidence of source of monies is also required under the money laundering laws as conveyancers are obliged to ensure that the money you are using to acquire a property (be it the exchange deposit or the full purchase price where you are a cash purchaser) has originated from an acceptable source (such as an inheritance) rather than the product of criminal activity.

My wife and I own a renovated Victorian property in Totland. Conveyancing solicitor acted for me and . I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?

You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Totland and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with the conveyancing practitioner who conducted the work.

I'm purchasing a new build house in Totland with the aid of help to buy. The builders would not reduce the price so I negotiated £7000 of extras instead. The sale representative suggested that I not to tell my conveyancer about this extras as it will impact my mortgage with the bank. Should I keep quiet?.

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.