I can't travel far from Mirfield. Please clarify why all Mirfield solicitors aren't automatically on all mortgage company panels?
Even though it may seem unfair for banks to restrict who can act for them, from the public’s or solicitor’s point of view, the flip side is that lenders are becoming ever more anxious and feel it crucial to defend themselves from illegal activities. As a result of this concern mortgage companies are limiting their conveyancing panel to a manageable size.
What does my ID and proof of funds have anything to do with my conveyancing in Mirfield? Is this really necessary?
To satisfy the Money Laundering Regulations any Mirfield conveyancing firm will require proof of identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account showing your correct address.
Under Money Laundering Regulations, property lawyers are duty bound to check not just the identity of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this will result in your solicitor 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 appropriate authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
A colleague suggested that where I am purchasing in Mirfield I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally quoted for as part of the standard Mirfield conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about Mirfield around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data regarding Mirfield.
Taking into account that I will soon part with over three hundred thousand on a house in Mirfield I would like to have a conversation with the lawyer regarding thehome move before giving the go ahead to the firm. Can this be arranged?
Absolutely - it is our preference to talk to you we do not take any clients on without you first talking to the conveyancer who will be doing your property ownership legalities in Mirfield.There is no ‘factory style conveyancing’ - each client is an important individual, not a matter reference. The law firms that we put you in touch with believe that the fees you are quoted for your conveyancing in Mirfield should be the amount on the final invoice that you end up paying.
My husband and I are acquiring a first floor flat in Mirfield. At the point of instructing our conveyancing practitioner, we were told they were on all major UK lender panels. Our mortgage broker emailed today to say that they don't seem to be on the Co-operative approved list. Should that be true, what should we do? Should we simply choose a new property lawyer that is on their approved list or do we cover the costs for dual representation, with Co-operative selecting their own approved solicitor.
When acquiring a property with mortgage finance it is normal for the buyer’s solicitors to also represent the mortgage company. In order to act for a bank or building society a conveyancing practitioner has to be on that lender's conveyancing panel. An application has to be made by the lawyer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the conveyancing practitioner has to meet. Some mortgage companies now require their panel firms to be part of the Law Society’s Conveyancing Quality Scheme. Your conveyancer should contact Co-operative and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on Co-operative's conveyancing panel as you are at liberty to use your preferred Mirfield lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.