My wife and I are buying a 3 bedroom flat in Trearddur Bay with a mortgage. We like our Trearddur Bay solicitor, but the mortgage company says he's not on their "panel". It seems we have no choice but to instruct one of the bank panel conveyancing practices or retain our Trearddur Bay property lawyer and pay for one of their panel lawyers to represent them. We feel that this is inequitable; can we not require that the lender use our Trearddur Bay lawyer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Trearddur Bay conveyancing solicitor to apply to be on the conveyancing panel.
My husband and I are getting closer to an exchange on a property in Trearddur Bay and my parents have sent the exchange deposit to my solicitor. I am now informed that as the deposit has not arrived from me my solicitor needs to disclose this to my bank. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the lender concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your property lawyer is duty bound to check with lender to make sure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
In what way does my ID and proof of funds have anything to do with my conveyancing in Trearddur Bay? What am I being asked for?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to check the identity of the person or body they are dealing with prior to agreeing to accepting their conveyancing retainer. The Terms and Conditions that you are required to sign should stipulate 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 refuse to hand over identification documents, your conveyancer would not be able to accept instructions from you.
We are intent on selling our house in Trearddur Bay and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A high street Trearddur Bay conveyancer would know that there is no such problem. It does beg the question why the buyers used an online conveyancing outfit as opposed to a conveyancing solicitor in Trearddur Bay. Having lived in Trearddur Bay for 5 years we know that this is a non issue. Is it a good idea to contact our local Authority to seek confirmation need.
It would appear that you have a conveyancing firm currently acting for you. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I used Action Conveyancing several years ago for my conveyancing in Trearddur Bay. Now, I need the documents but the law firm has closed. What do I do?
Do contact 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 Trearddur Bay of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I see that you have a post code search directory identifying law firms on the mortgage company conveyancing panel. Do Trearddur Bay conveyancing firms pay you a commission if I instruct them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the mortgage company conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Trearddur Bay.