In what way does my ID and proof of funds have anything to do with my conveyancing in Mill Hill? Why is this being asked of me?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to check the identity of the potential client they are dealing with before they can accept their conveyancing business. The Terms of Engagement that you need to sign should confirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you are unwilling to provide ID verification documents, your solicitor can not take you on as a client.
I have been referred to a conveyancing solicitor in Mill Hill. I I would like to check whether they are on the Platform Home Loans Ltd approved list of lawyers. Could you or the lender confirm if they are on the panel?
The first thing to do is contact the lawyer and ask them if they can act for the lender. Alternatively you can get in touch with Platform Home Loans Ltd who may be able to help.
When it comes to mortgage companies such as Barclays, do Mill Hill conveyancing practitioners incur an annual charge to be on the list of approved solicitors?
We are not aware of any lender fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
We expect to receive a AIP from Clydesdale this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Clydesdale recommend any Mill Hill solicitors on the Clydesdale conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Mill Hill solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
I recently had an offer accepted on a house in Mill Hill. My mortgage broker recommended their conveyancers. I paid an upfront payment of £225. Not long after, the property lawyer contacted me sheepishly admitting that they were not on the Principality conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I'm buying my first flat in Mill Hill with a mortgage from The Royal Bank of Scotland. The developers would not budge the amount so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not disclose to my solicitor about this extras as it could jeopardize my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Am I right to be wary that estate agents that I am dealing with are recommending a web based conveyancing firm rather than a local Mill Hill conveyancing firm?
As is the case with lots of service providers, often referrals from connections can be worth their weight in gold. But there are many people with a vested interest in a conveyancing deal; estate agents, mortgage brokers and lenders might all recommend conveyancers to appoint. On occasion the conveyancers might be known to one of the organisations as being good in their field, but sometimes there is an underlying financial incentive behind the recommendation. You have the right to select your own conveyancer. You need to be aware that some lenders specify a panel list of conveyancers you must use for the mortgage related work in your house move.
My step-father has suggested that I use his conveyancers in Mill Hill. Should I use them?
No doubt it’s preferable to choose a conveyancing solicitor is to get recommendations from friends or relatives who have experience in using the solicitor that you are considering.