What does my ID and proof of funds have anything to do with my conveyancing in Montgomery? What am I being asked for?

Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with prior to agreeing to accepting their conveyancing instruction. The Client Care letter that you need to sign should confirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you refuse to provide identification documents, your solicitor would not be able to act for you.

I am considering applying for a RBS mortgage for purchase of a newly converted (under development) in Montgomery with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for RBS ?

In theory, you could use a solicitor that is not on the RBS conveyancing panel, but RBS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.

What can a local search reveal concerning the property my wife and I purchasing in Montgomery?

Montgomery conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search organisations such as Onsearch The local search is essential in every Montgomery conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your property. The search will provide information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.

I am looking for a ground for flat up to £195,000 and identified one close by in Montgomery I like with open areas and railway links in the vicinity, however it's only got 52 years on the lease. I can't really find anything else in Montgomery in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?

Should you need a mortgage that many years will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you could request that they commence the lease extension formalities 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 matter.

Should I be worried if there is an issue with the searches carried out as part of my conveyancing in Montgomery?

Ordinarily, the majority of concerns that arise in Montgomery conveyancing search responses can be dealt with before completion or title insurance may be put in place. You should note that even though you intend on acquiring the property and may be willing to live with the search results, your mortgage lender may not, and when all said and done they have the word say.