My lawyer has identified a a legal deficiency with the lease for the flat we are buying in Parkwood Springs. The other side have suggested defective title insurance as a workaround. We are content with insurance and will cover the costs. Our property lawyer has advised that he must ensure that the bank is content with this solution. Are we the client or is the mortgage company ?

Regardless of the fact that you have a mortgage offer from the lender does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the mortgage company are the client. The appropriate lender provisions have to be complied with.

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

Parkwood Springs conveyancing solicitors and indeed property practitioners throughout the UK have a duty under money laundering regulations to verify the identity of any client in order to satisfy themselves that clients are who they say they are.

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

Proof of the origin of funds is also required under the money laundering regulations as lawyers are mandated to investigate that the funds you are utilising to acquire a property (whether it be the deposit for exchange or the full purchase amount if you are buying without a mortgage) has originated from a reputable source (such as an inheritance) rather than the product of criminal activity.

My bid for a property was accepted at auction in Parkwood Springs. Conveyancing is necessary. What are my next steps?

Now that you are exchanged you must choose a conveyancing lawyer soon as you are faced with a pending a drop dead date to complete the conveyancing. Every auction property will ordinarily have a bespoke legal set of papers. This will include evidence of title and search results. In the case of leasehold premises the auction papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to leasehold premises. You should pass this on to the conveyancer instructed by you as soon as possible. You also need to ensure that you have funds in place to complete on the on the contractual date .

A colleague advised me that in buying a property in Parkwood Springs there may be a number of restrictions affecting the ability to carry out external alterations to a property. Is this right?

There are a number of properties in Parkwood Springs which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Parkwood Springs should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

I have today made my last payment due on my mortgage with Aldermore. I assume I don't need a Parkwood Springs solicitor on the Aldermore panel to discharge the mortgage at the Land Registry. Please confirm.

If you have finished paying off your Aldermore mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Aldermore mortgage from the register. Aldermore, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Aldermore has sent the Land Registry the discharge electronically, and
3. Aldermore has instructed the Land Registry to do so

Over the last few months I have been searching for a flat up to £235,500 and identified one near me in Parkwood Springs I like with amenity areas and transport links nearby, however it's only got 51 years on the lease. I can't really find anything else in Parkwood Springs suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?

If you require a home loan that many years will be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.

I'm refinancing my current house to a buy to let loan with National Westminster Bank and I will use the rest of the raised equity as a deposit on further house. The neighborhood we are interested in is Parkwood Springs. Will your solicitors be able to act for the two banks and tie in the two deals?

Make use of our comparison tool on this site to ensure that the conveyancers are on the appropriate lender panels. Having checked that they are your solicitor should be able to connect the two transactions but you should talk with you conveyancer and make clear your desired outcome and needs.