Much to our surprise we have been told by our mortgage broker that my Burnham lawyer is not on the mortgage company Solicitor panel. How can I check?
The best course of action for you to take is to call your Burnham conveyancer. You lawyer should advise you of the situation. If they are not on the panel they may recommend you to a Burnham conveyancing firm that is on the conveyancing panel for your lender.
In what way does my ID and proof of funds have anything to do with my conveyancing in Burnham? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Burnham conveyancing firm will require proof of identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility account showing where you live.
In accordance with Money Laundering Regulations, conveyancers are required to ascertain not simply the ID of conveyancing clients but also the origin of monies that they receive in respect of any matter. An unwillingness to disclose this will lead to your lawyer ending 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 inform the appropriate authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
My lawyer in Burnham is not on the Halifax Approved Panel. Can I still retain my family solicitor even though they are not on the Halifax approved list?
Your options are as follows:
- Carry on with your preferred Burnham solicitors but Halifax will need to retain a solicitor on their panel. This will inevitably rack up the total legal charges as well as cause delays.
- Find an alternative lawyer to act in the conveyancing, obviously checking they are on the Halifax panel
This question may be naive but I am unexperienced as a first time buyer of a garden flat in Burnham. Do I collect the keys to the premises on completion from my lawyer? If so, I will find a local conveyancing solicitor in Burnham?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the vendor’s lawyers, and shortly after the monies have arrived, you will be invited to pick up the keys from the Estate Agents and start moving into the property. Usually this occurs early afternoon.
I have paid off my mortgage with Virgin Money. I assume I don't need a Burnham property lawyer on the Virgin Money panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
Planning on purchasing a apartment in Burnham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Burnham solicitor is on the Virgin Money conveyancing panel.
I have read on numerous consumer advice websites that when selecting a conveyancing firm they must be approved by your mortgage company. It happens to be my first house move but I have an AIP from HSBC and I already have a family conveyancing lawyer in Burnham at the ready. Will Nat West Bank insist on an approved solicitor to be used? Does a list of panel conveyancers even exist so I can choose a conveyancing solicitor in Burnham?
You should choose a solicitor that is on the Nat West Bank panel. The first thing to do is telephone your chosen Burnham conveyancing lawyer to check if they are on the Nat West Bank panel. If they are not approved you have a couple of choices available to you here:
- Carry on with your chosen Burnham lawyer but Nat West Bank will need to appoint a property lawyer on their approved list. The net result is additional cost together with probable interruption.
- Choose a new lawyer to act in the purchase, ensuring that they are on the Nat West Bank conveyancing panel.
- Appeal to your lawyer to apply to join the lender panel.