Unfortunately I am unable to travel far from Staindrop. What is the rationale as to why all Staindrop conveyancers aren't automatically on all bank panels?
Before the recession most banks demonstrated an approach to risk which differs from the current day. The FSA in 2010 instigated a thematic review into mortgage fraud which in summary warned lenders: know the solicitors on your panel. Accordingly, mortgage companies have since looked to extract more data from law firms regarding their processes and the staff employed by them and set certain criteria such as completing a minimum amount of transactions. Hundreds of firms have been excluded from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms found it impossible satisfy the minimum amount of transactions the mortgage companies insisted on.
What does my ID and proof of funds have anything to do with my conveyancing in Staindrop? What am I being asked for?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to check the identification documents of the person or body they are dealing with before they can accept their conveyancing retainer. The Terms of Engagement that you are required to sign should stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you are unwilling to hand over ID verification documents, your conveyancer can not take you on as a client.
We are buying a house in Staindrop. It might be a silly question but how we can trust a lawyer? On completion day we will need to deposit our life savings into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Are all Staindrop Conveyancing Quality Solicitors on the Aldermore conveyancing panel?
A selection of banks and building societies now use CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
I recently had an offer agreed on an apartment in Staindrop. My mortgage broker recommended their conveyancers. I paid an on account payment of £150. Shortly after, the conveyancer contacted me sheepishly admitting that they were not on the Yorkshire BS 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 Yorkshire BS 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.
I have been on the look out for a flat up to £235,500 and identified one round the corner in Staindrop I like with a park and transport links nearby, however it's only got 61 years unexpired on the lease. There is not much else in Staindrop for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage the shortness of the lease may be a potential deal breaker. Discount the price 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 twenty four months you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
I am a sole trader wishing to take over a lease of an office on the high street. Can you recommend solicitors offering fixed charges for non-domestic conveyancing in Staindrop for below £2000?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Staindrop, including the disposal and acquisition of businesses as well as simply premises. If you are intending to purchase or dispose of a shop, pub, restaurant, office, retail premises or a whole business we can find you the right lawyer. As for the fees these will vary based on the structure and complexity of the deal. Please provide us with your details or phone us so that we may furnish you with a detailed commercial conveyancing quote.