I was informed today by my financial adviser that my Slough lawyer is not on the mortgage company Conveyancing panel. What can I do to be sure whether this is correct?
Your first step should be to call your Slough lawyer directly. You lawyer should notify you what has happened. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your mortgage company.
Due to complete my purchase in Slough next Tuesday. My solicitor now wants me to supply her with evidence of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What does the insurance need to cover?
All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 requirements. These obligations are not limited to conveyancing in Slough.
What does my ID and proof of funds have anything to do with my conveyancing in Slough? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Slough conveyancing firm will require proof of identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility bill showing your correct address.
Under Money Laundering Regulations, property lawyers are required to ascertain not only the ID of conveyancing clients but also the source of monies that they receive in respect of any matter. Refusal to disclose this may result in your solicitor terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to make a disclosure to the relevant authorities should they consider that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
Is it correct that all Slough CQS (Conveyancing Quality Scheme) solicitors are on the Yorkshire BS conveyancing panel?
Some major lenders now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
We previously chose conveyancing lawyers locally in Slough on the TSB solicitor panel. They have just billed me an additional fee for the legal aspects of the TSB mortgage. Is this an additional conveyancing fee set by TSB?
Provided it is contained in their Terms and Conditions or estimate then yes your property lawyer is entitled to levy a fee for this. The fee is not dictated by TSB but by your Slough conveyancer. Numerous firms on the TSB panel will charge an ‘acting for lender’ fee and others do not.
I am due to exchange contracts on my apartment. I had a double glazing fitted in October 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Leeds Building Society are being pedantic. The Slough solicitor who is on the Leeds Building Society conveyancing panel is saying indemnity insurance will be fine but Leeds Building Society are requiring a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I used Wolstenholmes a few years ago for my conveyancing in Slough. Now, I need the files but cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate 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 Slough of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I need to instruct a conveyancing solicitor for freehold conveyancing in Slough. I've discover a site which seems to have the perfect offering If there is a chance to get all formalities done via email that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?