Is the fact that my solicitor in Bridgend is not on my mortgage company's conveyancing panel that there is a problem with the standard of her work?
That is most likely an incorrect assumption to make. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Bridgend conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
Some advice if I may. My Bridgend solicitor is advising me that he has toorder Bridgend conveyancing searches due to the fact thatthe firm are on the HSBCsolicitor panel. Is my conveyancer correct?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a lender your conveyancing practitioner has to comply with their conditions as set out in their version of the UK Finance Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Bridgend conveyancing searches.
We note that you have a post code search directory identifying firms on the Clydesdale conveyancing panel. Do companies pay you a commission if I instruct them for our own conveyancing in Bridgend?
We are a listing service only for law firms wishing to communicate if they are on the Clydesdale conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Bridgend.
My flat in Bridgend is up for sale and I have a buyer. Will my conveyancing practitioner have to be on the Lloyds conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Lloyds conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
I am buying a new build house in Bridgend with a mortgage from Bank of Ireland. The builders refused to budge the amount so I negotiated 6k of extras instead. The house builders rep suggested that I not inform my solicitor about the side-deal as it could affect my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am buying a flat with all finances in place. I have provided lawyer with 2 distinct forms of photo ID, bank statement, numerous utility bills. Now he wants a copy from a probate lawyer acknowledging that the money is legitimate and that it has come from inheritance and not selling fake watches.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Bridgend conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.