In what way does my ID and proof of funds have anything to do with my conveyancing in Wooler? Why is this being asked of me?

Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identification documents of the person or body they are dealing with before they can accept their conveyancing retainer. The Terms of Engagement that you need to sign should confirm this. Your lender will also require certain documents to be checked. Where you are unwilling to supply ID verification documents, your conveyancer can not take you on as a client.

I require expedited conveyancing in Wooler as I have a deadline to exchange contracts in less than one month. A home loan is not required. Can I decline from having conveyancing searches to save fees and time?

If.Given you are not obtaining a mortgage you have the choice not to have searches carried out although no conveyancer would suggest that you don't. Drawing on our experience of conveyancing in Wooler the following are instances of issues that can show up and adversely affect future saleability: Enforcement Actions, Outstanding Fees, Overdue Grants, Railway Schemes,...

Over the last few months I have been searching for a ground for flat up to £235,500 and identified one close by in Wooler I like with amenity areas and transport links nearby, however it only has 61 years on the lease. I can't really find anything else in Wooler in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?

If you need a mortgage that many years will likely be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you can request that they 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 speak to your conveyancing lawyer concerning this matter.

How do I use the search facility to select a conveyancing lawyer in Wooler on the authorised to act for my bank?

Step one is to pick a lender such as National Westminster Bank, Bank of Scotland or Platform Home Loans Ltd then choose your location for instance Wooler. Conveyancing practices in Wooler and further afield will then be identified.

I am tempted by the attractive purchase price for a couple of flats in Wooler both have in the region of forty five years left on the lease term. Will this present a problem?

A lease is a right to use the premises for a period of time. As the lease shortens the value of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this area.

I own a 2 bed flat in Wooler, conveyancing having been completed April 2005. Can you work out an approximate cost of a lease extension? Comparable properties in Wooler with an extended lease are worth £265,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2102

You have 76 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 as well as legals.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.