My fiance and I are looking to buy a house in Wanborough and have instructed a Wanborough conveyancing firm. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Godiva Mortgages Ltd have this evening contacted us to inform me that there is now an issue as our Wanborough solicitor is not on their conveyancing panel. What do we do from here?
If you are buying a property with the assistance of a mortgage it is standard for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Wanborough lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
In what way does my ID and proof of funds have anything to do with my conveyancing in Wanborough? Is this really warranted?
Wanborough conveyancing solicitors as well as nationwide property practitioners throughout the UK have a duty under money laundering regulations to check the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill no more than three months).
Confirmation of the origin of monies is also necessary under the money laundering laws as solicitors are obliged to check that the monies you are utilising to acquire a property (be it the exchange deposit or the total purchase price if you are buying without a mortgage) has originated from legitimate source (such as an inheritance) and is not the fruits of illegitimate behaviour.
Are the BSA intent on creating a search tool with a view to to identify firms on the Darlington Building Society conveyancing panel for instance in Wanborough?
We have not been informed any plans on the part of the BSA to promote such a tool.
My wife and I are buying a property in Wanborough. It might be a silly question but how we can trust a conveyancer? On completion day we will need to deposit money into their account. What protection do we have from them run away with our money?
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.
I am purchasing a property in Wanborough. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender RBS be concerned?
Given that you are obtaining a mortgage with RBS your lawyer must follow the conveyancing instructions set out in Part 2 of UK Finance Lenders’ Handbook for RBS. The Council of Mortgage Lenders’ Handbook sets out minimum conditions for solar panel roof-space leases, and conveyancing practitioners are required to report to RBS where a lease fails to meet these provisions. The provisions relate to the installation of panels on properties countrywide and is not limited to Wanborough.
Clydesdale have agreed my home loan in principle, my offer on a flat in Wanborough has been accepted, now what?
Your estate agent will wish to know who your solicitors are (ensure that the property lawyers are on the bank’s approved list). Call up Clydesdale or the financial adviser and finish off any outstanding forms. Clydesdale will sellect a valuer who will get in contact with the estate agent or vendor to arrange a time for the valuation to happen. Once conducted (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Clydesdale will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Wanborough.
I am thinking of appointing a conveyancing lawyer in Wanborough for my home move. Is it possible to see a solicitor's complaints history with the legal regulator?
Members of the public can read documented Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Go to Check a solicitor's record. For details about the period before 1 January 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The regulator may recorded call for training reasons.