My mortgage broker requires my Long Itchington law firm’s panel member for the Lloyds conveyancing panel. How do I discover this. I have contacted my local Long Itchington office but they cant find it on their system.

Have you tried speaking to your Long Itchington lawyer about this?. Most Long Itchington law firms will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each bank.

Is it realistic for conveyancing in Long Itchington to be finalised within 3 weeks?

First, If you are under time constraints for your conveyancing it is advisable to make sure that your conveyancer is familiar with the location as they will benefit local connections and know-how. It is possible that they could have handled otherhomes in the same neighbourhood. Therefore consider using a Long Itchington conveyancing lawyer. In addition, check that the lawyer is on the on the approved list for your mortgage company. It is claimed that 18% of Long Itchington conveyancing deals are delayed or derailed after discovering a purchaser’s lawyer was not on their banks panel. In many cases this discovery resulted in the transaction being held up by an average of three weeks. It is estimated that this issue affects in the region of one hundred thousand home moves annually. Many Long Itchington conveyancing firms can not act for certain mortgage companies so do check at the outset.

What does my ID and proof of funds have anything to do with my conveyancing in Long Itchington? What am I being asked for?

Long Itchington conveyancing solicitors as well as nationwide property practitioners throughout the UK have a duty under money laundering regulations to check the ID of any client with a view to ensure that clients are who they say they are.

Conveyancing clients are required to provide two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and evidence of address (usually a Utility Bill less than 3 months old).

Confirmation of the origin of funds is also necessary under the money laundering laws as solicitors are duty bound to investigate that the monies you are using to acquire a property (whether it be the deposit for exchange or the full purchase amount if you are a cash purchaser) has come from legitimate source (such as an inheritance) and is not the proceeds of criminal activity.

Please explain the implications if my lawyer’s firm is expelled from the Clydesdale Solicitor panel ahead of completing my conveyancing in Long Itchington?

First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.

I am purchasing my first flat in Long Itchington with a mortgage from The Royal Bank of Scotland. The sellers would not budge the amount so I negotiated £7000 of extras instead. The estate agent suggested that I not disclose to my lawyer about this deal as it will impact my mortgage with The Royal Bank of Scotland. Do I keep my lawyer in the dark?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.