What does my ID and proof of funds have anything to do with my conveyancing in Buckden? 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 prior to agreeing to accepting their conveyancing retainer. The Terms of Engagement that you need to sign will no doubt confirm this. Your lender will also require certain documents to be viewed. If you refuse to supply identification documents, your solicitor would not be able to act for you.

Various internet forums that I have visited warn that are the main cause of obstruction in Buckden conveyancing transactions. Is this right?

The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances during the legal transfer of property. Searches are not likely to feature in any slowing down conveyancing in Buckden.

I have been on the look out for a ground for flat up to £235,500 and identified one near me in Buckden I like with a park and transport links nearby, the downside is that it only has 49 years on the lease. I can't really find anything else in Buckden for this price, so just wondered if I would be making a mistake purchasing a short lease?

Should you need a mortgage the remaining unexpired lease term may be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.

I am looking at a two maisonettes in Buckden which have in the region of forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Buckden. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this area.

I purchased a 1st floor flat in Buckden, conveyancing was carried out in 1995. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Buckden with an extended lease are worth £165,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease terminates on 21st October 50

With 50 years remaining on your lease we estimate the price of your lease extension to span between £36,100 and £41,800 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.

We are FTB’s just having agreed a price on a property in Buckden, and are about to get solicitors instructed. We have utilised the various comparison based websites and the quotes are from all over the country. Is it critical to have a Buckden local to the potential new home? We are happy to do all the communicating electronically, but I guess at some stage we will be required to physically go into the 's office to sign papers?

Generally there is no requirement to attend the office of your , they can post any relevant contracts to you, which you can sign and return. Many home movers nevertheless opt to use a locally based solicitor, but it is not a prerequisite for conveyancing in Buckden.