Me and my wife are acquiring a leasehold flat in Birch and Middleton. My property lawyer is not on the bank conveyancing panel. Can I still use my Birch and Middleton conveyancing solicitor notwithstanding that they are not on the mortgage company panel?
You have a couple of alternatives open to you here
- Proceed with your existing Birch and Middleton solicitor but your bank will need to instruct a lawyer from their approved list. The net result is additional cost and probable delay.
- Get a fresh conveyancer to act in the purchase, obviously checking they are on the bank conveyancing panel.
- Convince your property lawyer to do everything possible to get listed on the bank’s conveyancing panel
The Birch and Middleton conveyancing firm handling our Birch and Middleton conveyancing has discovered an inconsistency when comparing the assumptions in the home valuation report and what is in the conveyancing documents. My lawyer has advised that he needs to check that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s stance legitimate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
In what way does my ID and proof of funds have anything to do with my conveyancing in Birch and Middleton? What am I being asked for?
In order to comply with Money Laundering Regulations any Birch and Middleton conveyancing firm will require proof of identity in all conveyancing transactions. This is usually satisfied by provision of a passport and an original bank statement or utility bill showing your correct address.
Under Money Laundering Regulations, conveyancers are duty bound to validate not simply the ID of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this will lead to your solicitor terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to inform the appropriate authorities should they believe that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
When looking at mumsnet.com for a high-quality solicitor in Birch and Middleton, most advise that I should use a CQS accredited solicitor. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to best practice conveyancing procedures through the scheme protocol Membership covers numerous organisations who handle conveyancing in Birch and Middleton.
I'm purchasing my first flat in Birch and Middleton with a mortgage from Barnsley Building Society. The developers would not budge the amount so I negotiated £7000 of additionals instead. The property agent told me not to tell my conveyancer about this deal as it may adversely affect my mortgage with Barnsley Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My step-father has urged me to use his lawyers for conveyancing in Birch and Middleton. Should I use them?
Much as we are happy to recommend a Birch and Middleton conveyancing lawyer the ideal way to select a conveyancing lawyer is to get recommendations from friends or family who have experience in using the conveyancer that you are considering.