Me and my partner are purchasing a 2 bedroom flat in Dronfield with a mortgage. We have a Dronfield conveyancer, but the bank advise she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or retain our Dronfield lawyer as well as pay for one of their panel ones to act for them. We feel that this is inequitable; are we not able to require that the lender use our Dronfield conveyancing practitioner ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders 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 Dronfield conveyancing lawyer to apply to be on the conveyancing panel.
In what way does my ID and proof of funds have anything to do with my conveyancing in Dronfield? Why is this being asked of me?
Dronfield conveyancing solicitors and indeed property practitioners accross the UK have an obligation under Anti-terror and anti-money-laundering rules to check the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to disclose two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and proof of address (usually a Bank Statement no older than three months).
Evidence of source of monies is also necessary in compliance with the money laundering statutes as solicitors are obliged to ensure that the funds you are utilising to purchase a property (whether it be the deposit for exchange or the total purchase amount where you are buying mortgage free) has come from an acceptable source (such as an inheritance) as opposed to the fruits of illegitimate activity.
My colleague advised me that if I am buying in Dronfield I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Dronfield conveyancing searches. It is a large report of about 40 pages, listing and setting out important information about Dronfield around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Dronfield Education with maps and statistics, Local Amenities and other useful data regarding Dronfield.
I was recommended by numerous selling agents in Dronfield to select a property lawyer using your seach tool. Is there a financial inducement for Estate Agents to promote your services ahead of another?
We don’t offer any commission for sending work in our direction. We thought it would be too underhand to pay a commission as a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
Am I best advised to use a Dronfield conveyancing solicitor who is local to the property I am purchasing? An old friend can execute the legal formalities however they are based approximately 350kilometers away.
The primary upside of using a local Dronfield conveyancing practice is that you can pop in to execute documents, hand in your ID and pester them where appropriate. They will also have local insight which is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who used your friend and in the main were happy that must surpass using an unfamiliar Dronfield conveyancing lawyer just because they are local.
Is there an average legal costs for conveyancing in Dronfield?
The average fee last year for conveyancing in Dronfield was £1,395 not including Stamp Duty and HM Land Registry fees.