I am not well enough to travel far from Rayners Lane. Please explain the reason why all Rayners Lane property lawyers aren't included on all lender panels?
Before the recession most lenders exhibited an approach to risk which is different than today. The Financial Services Authority in 2010 conducted a thematic review into property fraud which in summary warned lenders: know the solicitors on your panel. As a result, banks have since soughtmore information from law firms about their operations and the staff who work for them and set certain criteria such as completing a minimum number of transactions. Thousands of firms have been removed from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the criteria of amount of transactions the mortgage companies required.
What does my ID and proof of funds have anything to do with my conveyancing in Rayners Lane? Is this really warranted?
Rayners Lane conveyancing solicitors and indeed property practitioners accross the UK have a duty under money laundering regulations to check the identity of any client with a view to ensure that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and proof of address (typically a Bank Statement less than 3 months old).
Confirmation of source of funds is also necessary in accordance with the money laundering laws as lawyers have a duty to check that the monies you are using to acquire a property (whether it be the deposit for exchange or the full purchase monies if you are buying without a mortgage) has originated from legitimate source (such as an inheritance) as opposed to the product of illegitimate activity.
I am looking to buy a flat and require a conveyancing solicitor in Rayners Lane who is on the HSBC Bank approved. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for HSBC Bank in certain locations such as Rayners Lane. We dont recommend any particular firm.
I am being told by my lawyer that flying freehold insurance is required on my purchase. What is the level of cover for Rayners Lane conveyancing?
The appropriate level of flying freehold indemnity insurance depends on your lender. It would differ for example between Yorkshire Building Society and Virgin Money. Conveyancing solicitors as opposed to borrowers take out such policies.
is it true that all Rayners Lane solicitor practices on the Lloyds conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Lloyds approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Many banks do permit licenced conveyancers on their panel and in that case the firms would be governed by the CLC.
I have instructed a Rayners Lane property lawyer having checked that they are on the Co-operative conveyancing panel. Does my lawyer arrange the survey of the property?
Co-operative will need an independent valuation of the property. Your lawyer will not arrange this. Usually Co-operative will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Rayners Lane postcode. As you are getting a mortgage with Co-operative, you could contact them to see if they have a list of approved surveyors in Rayners Lane.
I used Stirling Law several years past for my conveyancing in Rayners Lane. Now, I need my files however the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Rayners Lane of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Should one as executor remove a departed person's name from the title register for a property in Rayners Lane?
Where a Rayners Lane property is jointly owned and one of the proprietors passes away, the name will not automatically be removed from the title deeds. You are not required to amend the title as in the event of a sale your lawyer would just need to evidence as to the reason the joint proprietor is missing from the transfer, ordinarily this is in the form of the probate documents.
With a view to making the sale conveyancing more straight forward for the sale of the property you can arrange to have the deceased person erased from the title by applying to HMLR with proof of the death. There is no land registry fee payable.