I am not in a position to travel far from Fishguard. I would like to know the reason why all Fishguard property lawyers are not on all mortgage company panels?
Mortgage companies point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for mortgage companies to review their conveyancing panels, which triggered a major policy change in the sector. This led to mortgage companies pruning less reputable firms off their panel of approved conveyancers .
I am nearing an exchange on a property in Fishguard and my mum and dad have transferred the exchange deposit to my lawyer. I am now advised that as the deposit has been sent from someone other than me my conveyancer needs to make a notification to my lender. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the lender regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your lawyer is duty bound to check with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
What does my ID and proof of funds have anything to do with my conveyancing in Fishguard? Is this really warranted?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the potential client they are dealing with before they can accept their conveyancing retainer. The Terms of Engagement that you are required to sign will no doubt stipulate this. Your lender will also require certain documents to be viewed. Should you refuse to provide ID verification documents, your solicitor will not be able to take you on as a client.
Do I have to visit the offices of the solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Fishguard so that I can pop in to their offices if necessary.
As opposed to 15 years ago, the vast majority lenders no longer need their conveyancing panel solicitor to witness the mortgagors signature. It will still be necessary for you to hand over ID documents and there are still manifest advantages to choosing a local solicitor, in your situation a conveyancing solicitor in Fishguard.
I can see plenty of information on this site regarding conveyancing in Fishguard but what is your top tip for finding the right conveyancer in Fishguard
It would be unwise to be seduced by the cheapest Fishguard conveyancing fees. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
I am the only recipient of my late father’s will with all property in now in my sole name, including the my former home in Fishguard. The Fishguard property was put into my name in March. I plan to dispose of the property. I understand that there is a CML six month 'rule', which means that my proprietorship will be considered the same way as though I had purchased the house in March. Is the property unsalable for six months?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. How sensible a view lenders take of it, depend on the mortgage company as this requirement is principally there to pick up on the purchase and immediately sell or the quick reselling of property.
Planning on purchasing a apartment in Fishguard. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the RBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Fishguard conveyancing practitioner is on the RBS conveyancing panel.
Are there any apps to help find a Fishguard conveyancing solicitor on the lender conveyancing panel? I have a car and am prepared to travel up to 20miles to attend the solicitor.
Feel free to make use of the find a conveyancing panel search on this website. Please choose the lender and your location, in this case Fishguard and you will see a number of lawyer located nearest Fishguard. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the mortgage company solicitor panel.