Unfortunately I am unable to travel far from Downend. Please explain the reason why all Downend conveyancing practitioners aren't automatically on all bank panels?
Lenders highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The elimination of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which triggered a major policy change in the sector. This led to banks and building societies removing less reputable firms off their books of approved solicitors .
Can you help? My Downend conveyancer is assuring me that she is duty bound toconduct Downend conveyancing searches asthe firm are on the Nat Westconveyancing panel. Is my lawyer right?
You have limited options available to you. Given that you are taking out a loan with a lender your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Downend conveyancing searches.
In what way does my ID and proof of funds have anything to do with my conveyancing in Downend? Is this really warranted?
Downend conveyancing solicitors as well as nationwide property lawyers throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to check the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and proof of address (usually a Bank Statement less than 3 months old).
Confirmation of the origin of monies is also necessary in compliance with the money laundering laws as conveyancers are duty bound to check that the monies you are using to buy a property (be it the exchange deposit or the total purchase monies where you are buying mortgage free) has originated from a reputable source (such as an inheritance) as opposed to the product of criminal behaviour.
we are a couple who wish to acquire a newbuild flat in Downend with a residential mortgage from Godiva Mortgages Ltd.We would like to retain our Downend conveyancing solicitor but Godiva Mortgages Ltd says she’s not listed on their approved list of firms. we are left little option but to use a Godiva Mortgages Ltd panel lawyer or retain our high street solicitor and fork out for a Godiva Mortgages Ltd panel lawyer to represent them. This seems very unfair; Can we not simply insist that Godiva Mortgages Ltd use our lawyer?
Unfortunately,no. The home loan offered to you contains various provisions, a common one being that conveyancers will be on the Godiva Mortgages Ltd conveyancing panel. in the past, most banks had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Godiva Mortgages Ltd
I am downsizing from my house. My former lawyers closed down. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Downend if that makes things easier.
Do use our search tool to help you find a solicitor for your conveyancing in Downend. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
I require the services of a lender panel solicitor in Downend. Could you help me?
It is not clear why you need a Downend panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the mortgage company to find out which solicitors in Downend are on their panel . If you do find such a firm in Downend not listed please direct them to our site to list. After all the cost is only one £1 a month