Am I correct in assuming that the fact that my solicitor in Dunston is not listed on my lender's solicitor panel that there is a problem with the quality of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Dunston conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
My conveyancer has discovered a defect with the lease for the apartment we are purchasing in Dunston. The other side have put forward title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancing practitioner says that he must be satisfied that the bank is happy with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner 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 Dunston? Why is this being asked of me?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to check the identification documents of the person or body they are dealing with prior to agreeing to accepting their conveyancing business. The Terms and Conditions that you are required to sign will no doubt stipulate this. Your lender will also require certain documents to be checked. Where you refuse to provide identification documents, your conveyancer would not be able to act for you.
Should our solicitor be making enquiries about flooding as part of the conveyancing in Dunston.
Flooding is a growing risk for lawyers carrying out conveyancing in Dunston. There are those who acquire a property in Dunston, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Solicitors are not best placed to offer advice on flood risk, however there are a various searches that can be initiated by the buyer or by their lawyers which will give them a better appreciation of the risks in Dunston. The standard information given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the owner to determine whether the property has suffered from flooding. If flooding has previously occurred and is not disclosed by the seller, then a buyer could commence a claim for damages as a result of such an misleading reply. The buyer’s solicitors will also conduct an enviro report. This will reveal whether there is a recorded flood risk. If so, further inquiries should be carried out.
Taking into account that I am about to part with 450k on a property in Dunston I would like to talk to a lawyer concerning theconveyancing before giving the go ahead to the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you first talking to the conveyancer who will be carrying out your property ownership legalities in Dunston.There is no ‘factory style conveyancing’ - each client is an important person, not a file reference. The practices that we put you in touch with believe that the figure you are quoted for residential conveyancing in Dunston should be the figure that you end up paying.
I am using a search engine for the term conveyancing in Dunston it reveals numerous solicitorsin the vicinity. With so much choice what is the best way to find the right property lawyer for my move?
The best way of choosing the right conveyancer is through a personal recommendation, so ask friends and relatives who have acquired a property in Dunston or the reputable estate agent or mortgage broker. Charges for conveyancing in Dunston differ, so it's advisable to request a minimum of three estimates from varying types of law firms. Be sure to seek confirmation what costs in the quote includes.