Unfortunately I am unable to travel far from Barnt Green. I would like to know the logic why all Barnt Green conveyancers aren't included on all mortgage company panels?
Lenders point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The removal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies purging a number of firms from their panel of approved solicitors .
What does my ID and proof of funds have anything to do with my conveyancing in Barnt Green? Is this really necessary?
In order to comply with Money Laundering Regulations any Barnt Green conveyancing firm will require evidence of your identity in all conveyancing matters. 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 obliged by law to check not only the identity of conveyancing clients but also the source of the money that they receive in respect of any matter. An unwillingness to disclose this will lead to your conveyancer terminating their relationship 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 make a disclosure to the relevant authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Barnt Green is where the house is located. Is there any guidance you can give?
Flying freeholds in Barnt Green are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Barnt Green you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Barnt Green may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am selling my house. My past solicitors have shut. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Barnt Green if that affects matters.
You should use our search tool to help you choose a solicitor for your conveyancing in Barnt Green. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
We're FTB’s - had an offer accepted, yet the selling agent informed us that the vendor will only issue a contract if we use their preferred solicitors as they need an ‘expedited deal’. Our preferred option is to instruct a high street solicitor with experience of conveyancing in Barnt Green
It is highly unlikely the sellers are behind this. If they desire ‘a quick sale', alienating a motivated purchaser is likely to cause more damage than good. Speak to the vendors direct and make the point that (a)you are serious buyers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)however you are going to appoint your own,trusted Barnt Green conveyancing lawyers - rather thanthose that will provide the estate agent a commission or hit his conveyancing figures demanded by head office.
My step-son is about to join the property ladder, he had his mortgage in principle. After the seller agreed the offer on the house we called the mortgage institution to issue the formal offer. We were shocked to discover that mortgage companies do not accept all conveyancer, they have to be on a list, is this correct?
Banks tend to imposes restrictions either the type or the number of conveyancing solicitors on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Barnt Green conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.