Me and my partner are acquiring a maisonette in Fulwood. My lawyer is not on the mortgage company conveyancing list. Is it possible for me to appoint my Fulwood conveyancing solicitor notwithstanding that they are excluded from the mortgage company panel of approved conveyancing solicitors?
Various options include
- Complete the purchase with your preferred Fulwood property lawyer but your mortgage company will undoubtedly appoint a lawyer from their conveyancing panel. The net result is additional charges together with potential delay.
- Appoint a fresh conveyancing practitioner to conduct the conveyancing, ensuring that they are on the mortgage company conveyancing panel.
- Appeal to your lawyer to seek to join the bank panel
My wife and I changing mortgage lender for our apartment in Fulwood with Kent Reliance. We have a son 19 who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this form unique to the Kent Reliance conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your Kent Reliance conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Kent Reliance. This is solely used to protect Kent Reliance if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Kent Reliance had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
What does my ID and proof of funds have anything to do with my conveyancing in Fulwood? Is this really warranted?
In order to comply with Money Laundering Regulations any Fulwood conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility account showing where you reside.
Under Money Laundering Regulations, conveyancers are obliged by law to ascertain not just the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. An unwillingness to disclose this may result in your conveyancer terminating their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to inform the relevant authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
I used Arc property Solicitors a few years past for my conveyancing in Fulwood. Now, I need my files but the law firm has closed. What do I do?
You should contact 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 Fulwood 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.
Our conveyancer in Fulwood has identified a a legal deficiency with the lease for the apartment we are purchasing in Fulwood. The seller’s lawyers have suggested defective title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer has advised that as he is on the mortgage company conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.