Me and my husband are buying a flat in Lisvane. My Conveyancer is not listed on the bank solicitor list. Am I still permitted to appoint my Lisvane conveyancing solicitor even though they are excluded from the mortgage company panel?
Your options include
- Proceed with your preferred Lisvane lawyer but your lender will no doubt instruct a property lawyer on their approved list. The net result is additional charges and likely delay.
- Choose a fresh property lawyer to conduct the conveyancing, ensuring that they are on the lender conveyancing panel.
- Convince your lawyer to apply to join the lender panel
What does my ID and proof of funds have anything to do with my conveyancing in Lisvane? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Lisvane conveyancing firm will require proof of identity in all conveyancing transactions. This is usually satisfied by provision of a passport and an original bank statement or utility account showing your correct address.
In accordance with Money Laundering Regulations, conveyancers are required to check not simply the ID of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this may lead to your solicitor cancelling 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 believe that any amounts received by them may contravene the Money Laundering Regulations.
Please explain the implications if my lawyer’s firm is expelled from the UBS Solicitor panel ahead of completing my conveyancing in Lisvane?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
How does conveyancing in Lisvane differ for newly converted properties?
Most buyers of new build premises in Lisvane come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is built. This is because developers in Lisvane tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Lisvane or who has acted in the same development.
Should I be wary about estate agents that I am dealing with are suggesting an online conveyancing firm rather than a High Street Lisvane conveyancing practice?
As with lots of professional services, often input from family and friends can be worth their weight in gold. Nevertheless there are lots of parties with a keen interest in a conveyancing deal; estate agents, mortgage brokers and lenders might all recommend solicitors to select. On occasion these conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there is an underlying financial incentive behind the recommendation. You have the discretion to appoint your preferred conveyancer. Don't forget that many lenders specify a panel list of law firms you have to use for the lender related work in your transaction.
As co-executor for the estate of my grandfather I am selling a property in Cardiff but reside in Lisvane. My lawyer (who is 250 kilometers from mehas requested that I sign a stat dec prior to completion. Could you suggest a conveyancing practitioner in Lisvane who can attest this legal document for me?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are based in Lisvane