I am one month into the sale of my house in Nayland and the EA has just called to advise that the purchasers are appointing a new property lawyer. I am told that this is due to the fact that the mortgage company will only engage with solicitors on their approved list. On what basis would a leading lender only work with specific lawyers rather the firm that they want to appoint to handle their conveyancing in Nayland ?
Lenders have always had panels of law firms they are willing to work with, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Banks point to the increase in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any impact on this.
What does my ID and proof of funds have anything to do with my conveyancing in Nayland? Is this really necessary?
In order to comply with Money Laundering Regulations any Nayland conveyancing firm will require evidence of your identity in all conveyancing matters. This is usually dealt with by provision of a passport and an original bank statement or utility account evidencing your correct address.
Under Money Laundering Regulations, conveyancing solicitors are required to ascertain not simply the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this will result in your solicitor ending their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to inform the appropriate authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
Our mortgage company has suggested solicitors on their panel based in Nayland but I would rather choose a conveyancing lawyer in Nayland round the corner to me. Can you help?
Far from all Nayland conveyancing practitioners are on all lender’s conveyancing panel. Use our find an approved solicitor tool to identify a Nayland conveyancing firm on the on the lender panel.
What is your number one tip for finding a conveyancing solicitor in Nayland
We would encourage you not to base your choice on the lowest Nayland 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 ahead of the deal.
My wife and I purchasing a end of terrace house in Nayland. We would like to carry out an extension to the side at the property.Will the conveyancing process include checks to ascertain if these works are allowed?
Your property lawyer should check the deeds as conveyancing in Nayland will sometimes identify restrictions in the title documents which prevent certain works or necessitated the consent of another owner. Certain additions require local authority planning consent and approval in compliance with building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be sensible to check these things with a surveyor ahead of any purchase.
Is it correct that all Nayland CQS (Conveyancing Quality Scheme) solicitors are on the Nottingham conveyancing list of approved solicitors?
It is true that some banks and building societies now utilise CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their panels.
I require quick conveyancing in Nayland as I am under a deadline to exchange contracts within 4 weeks. A mortgage is not required. Can I avoid the conveyancing searches to save fees and time?
If.Given you are not getting a home loan you have the choice not to have searches conducted although no lawyer would advise that you don't. Drawing on our experience of conveyancing in Nayland the following are examples of issues that can show up and therefore affect the marketability of the property: Refused Planning Applications, Outstanding Charges, Overdue Grants, Railway Schemes,...
Are there restrictive covenants that are commonly picked up as part of conveyancing in Nayland?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Nayland. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’