I plan on purchasing a ground floor flat in Staffordshire. My lawyer has never been on on the mortgage company approved list. Is it possible for me to retain my Staffordshire conveyancing solicitor notwithstanding that they are not on the lender panel of approved conveyancing solicitors?
One will need to instruct a lawyer to complete the legal work required if you need a mortgage to buy your property. The conveyancer will carry out all the essential legal checks on the property, ensuring that you will be properly registered as the owner and ensure that all the required mortgage paperwork is in order. One can instruct a Staffordshire conveyancing practitioner of your choice. Nevertheless, if the property lawyer appointed is not on the mortgage company approved list further charges will be incurred as separate legal representation will be required by them. Conveyancing panel applications can be submitted, so provided your solicitor has not previously applied for membership they should take the opportunity to apply.
My lawyer has discovered a a problem with the lease for the flat we are buying in Staffordshire. The seller’s lawyers have suggested title insurance as a solution. We are happy with insurance and will cover the costs. Our property lawyer says that he must check that the mortgage company is content with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with 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 property lawyer will have no choice but to discontinue acting for you.
In what way does my ID and proof of funds have anything to do with my conveyancing in Staffordshire? Is this really necessary?
In order to comply with Money Laundering Regulations any Staffordshire conveyancing firm will require proof of identity in all conveyancing matters. This is usually satisfied by provision of a passport and an original bank statement or utility account evidencing where you live.
In accordance with Money Laundering Regulations, conveyancing solicitors are required to validate not just the ID of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this may 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 property lawyers are duty bound to inform the relevant authorities should they consider that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
I have a decision in principle. The bank mentioned the loan came with free conveyancing. Is the implication that I have to use their panel conveyancer as I would prefer to appoint a Staffordshire based conveyancing firm?
You should check but the the probability is that allocate you one of their panel lawyers where you want the "fee-free" deal. Contact the lender to determine if they offer you a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Staffordshire.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The solicitors who handled the conveyancing in Staffordshire 10 years ago have long since closed. What are my next steps?
As long as the title is registered the details of your proprietorship will be retained by HMLR under a Title Number. It is possible to carry out a search at the Land Registry, find your property and order up to date copies of the Registered Entries for a small fee. If the title is Leasehold then the Land Registry will usually retain a certified copy of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.