My partner and I are looking to buy a flat in Llandudno and are in fact using a Llandudno conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Coventry Building Society have this evening contacted us to inform me that they have now hit a problem as our Llandudno lawyer is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' solicitors to also represent the mortgage company. 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 Accreditation Scheme. Your solicitor should contact your mortgage company 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 and you may continue to use your own Llandudno solicitors, 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 Llandudno? Is this really warranted?
You are right in the requirement set out by your lawyer has nothing to do with conveyancing in Llandudno. Nowadays you will not be able to complete any conveyancing process if you have not handing over proof of your identity. This usually takes the form of a either your passport or driving licence as well as a bank statement. Please note that if you are supplying your driving licence as evidence of ID it must be both the paper element as well as the photo card part, one is not sufficient without the other.
Evidence of your source of monies is required in accordance with the Money Laundering Regulations. You should not be offended when when this is requested of you as your conveyancing solicitor must retain this information on record. Your Llandudno conveyancing solicitor will need to see evidence of proof of funds before they are able to accept any monies from you into their client account and they may also ask additional questions concerning the source of monies.
I require quick conveyancing in Llandudno as I am under an ultimatum to complete within one month. A home loan is not required. Can I avoid the conveyancing searches to save fees and time?
As you are not taking a mortgage you have the choice not to have searches conducted although no conveyancer would advise that you don't. Drawing on our experience of conveyancing in Llandudno the following are instances of issues that can show up and therefore impact future saleability: Enforcement Actions, Outstanding Charges, Outstanding Grants, Road Schemes,...
How does conveyancing in Llandudno differ for newly converted properties?
Most buyers of new build premises in Llandudno approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is built. This is because house builders in Llandudno usually 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 conveyancing solicitors 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 accustomed to new build conveyancing in Llandudno or who has acted in the same development.
What makes your site different to other online quote calculators when it comes to conveyancing in Llandudno?
At this site get a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that understands the nuances for your conveyancing in Llandudno. As opposed to estate agents and brokerage sites we are not in the business of charging firms a fee if you select them for your home move in Llandudno
I am searching for Llandudno conveyancing quotes online. Can I be assured that all the Llandudno firms that are listed on your site are on the mortgage company conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have advised us that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the lender panel. To date we have not been informed by either a bank or a member of the public that the data about a specific Llandudno firm being on the lender conveyancing panel is incorrect.