I am obtaining a mortgage with Santander. I would like to instruct a Licensed Conveyancer in Padstow. Does the Santander Solicitor panel exclude conveyancers regulated by the CLC?
The Santander approved solicitor list is, like many other lenders, represented by the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
What does my ID and proof of funds have anything to do with my conveyancing in Padstow? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Padstow conveyancing firm will require proof of identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility bill evidencing your correct address.
Under Money Laundering Regulations, conveyancers are duty bound to ascertain not just the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this will lead to your solicitor terminating their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to inform the appropriate authorities should they consider that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
When it comes to lenders such as Bank of Ireland, do Padstow conveyancing practitioners have to pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I have decided to exercise my right to buy my property in Padstow off the council. I have a mortgage offer with Barclays. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Barclays, you will need to appoint a solicitor on the Barclays conveyancing panel.
I recently had an offer accepted on an apartment in Padstow. My mortgage broker pressured me to appoint their solicitor. I paid an upfront payment of £200. A few days later, the conveyancing practitioner contacted me to say that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Over the last few months I have been searching for a flat up to £195,000 and found one close by in Padstow I like with a park and transport links in the vicinity, the downside is that it only has 51 years on the lease. There is not much else in Padstow suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan the shortness of the lease will likely be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
After what seems like an age I have had an offer on an flat in Padstow agreed to, the seller does nevertheless have a connected purchase. The sellers have offered on somewhere, although it’s not been accepted yet, and has viewings of other flats booked. I have selected a local conveyancing solicitor in Padstow. What do I do now? At what stage should I apply for the mortgage with Aldermore?
It is normal to have concerns where there is a chain given your reluctance to incur costs too early (mortgage application is in the region of £1k, then survey, Padstow conveyancing search charges, etc). The first course of action is to check that your conveyancing practitioner is on the Aldermore approved list. Regarding the subsequent stages this very much dictated by the uniqueness of your case, desire for the property and on the state of the market. During a hot market the majority of buyers will apply for the mortgage with Aldermore and pay for the valuation and only if it comes back ok would they pay their conveyancer to proceed with the conveyancing in Padstow.