What does my ID and proof of funds have anything to do with my conveyancing in Parkstone? Is this really warranted?
To satisfy the Money Laundering Regulations any Parkstone conveyancing firm will require evidence of your identity in all conveyancing transactions. This is usually dealt with by provision of a passport and an original bank statement or utility bill evidencing your correct address.
Under Money Laundering Regulations, property lawyers are duty bound to investigate not only the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. An unwillingness to disclose this will lead to your conveyancer ending their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to make a disclosure to the relevant authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
My home in Parkstone is up for sale and I have a purchaser. Does the conveyancing practitioner need to be required to be on the Leeds Building Society conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Leeds Building Society conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently in recent years.
My solicitor has informed me that lack of building regulations insurance is required on my purchase. What is the level of cover for Parkstone conveyancing?
The right level of lack of building regulations indemnity insurance should be dictated by who who your lender is. It would differ for example between Birmingham Midshires and Leeds Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
I have decided to exercise my right to buy my property in Parkstone off the council. I have a mortgage agreed with Lloyds. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
I am selling my apartment. I had a double glazing fitted in June 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nationwide are being difficult. The Parkstone solicitor who is on the Nationwide conveyancing panel is saying indemnity insurance will be fine but Nationwide are insisting on a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
The deeds to my property are lost. The conveyancers who did the conveyancing in Parkstone 10 years ago no longer exist. What do I do?
You no longer need to hold title original deeds to evidence that you own the land or property, given that the Land Registry hold details of all registered land or property electronically.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one close by in Parkstone I like with open areas and transport links nearby, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in Parkstone suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan that many years may be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
My husband and I are 3 weeks into a residential purchase having been directed to a firm by the estate agent to do our conveyancing in Parkstone. I am not happy. Can you you assist me in finding new lawyers?
They would have to be really bad to suggest diss instructing them. Has your mortgage been sent? If so you will need to make them aware of the new lawyer and get the loan are issued to the new lawyers. Your new solicitor ideally needs to be on the lenders panel to avoid added fees and frustration. That should be your starting point. The find a solicitor tool should assist you in finding a bank approved solicitor for your home move in Parkstone